Grayscale, the world’s largest digital asset manager, recently published an update about the total value of the company’s crypto assets under management. According to the numbers, the digital asset management firm now has approximately $45 billion worth of cryptocurrency assets under management (AUM).
Bitcoin is the largest holding of Grayscale. Presently, the company has more than $32 billion worth of BTC under management. Grayscale’s Ethereum Trust is the second most valuable trust with a total value of over $10 billion. Apart from BTC and ETH, the digital asset management firm holds other Cryptocurrencies , including Ethereum Classic, Litecoin and Bitcoin Cash in large amounts.
The total value of Grayscale’s crypto AUM increased sharply in 2021. The company started 2021 with approximately $20 billion worth of crypto AUM. The recent surge in the popularity of crypto assets and a significant jump in the price of Bitcoin and Ethereum played an important role in the overall growth of Grayscale’s crypto AUM.
In a recent interview with Bloomberg, Michael Sonnenshein, CEO of Grayscale, highlighted the recent growth of the digital currency ecosystem. “The digital currency ecosystem is continuing to allow for new use cases and new protocols to come into the fold, and we are starting to see the confluence between digital assets and things like gaming or file storage. We are certainly going to see the emergence of new protocols before we see consolidation,” Sonnenshein said.
Crypto Price Action
The overall market cap of digital assets increased by approximately $60 billion yesterday. Bitcoin, Ethereum and Dogecoin saw strong gains. Despite the latest dip in today’s trading session, BTC is still trading above the $51,000 price level.
“Bitcoin is currently at $51,400 as the token has seen a 25% increase over the last seven days. Technical indicators are bullish, with analysts predicting a bull run to Christmas and some seeing $50,000 as a new support level. This recent Bitcoin advance could be the repeat of history following the Chinese ban on crypto activities,” Freddie Evans, Sales Trader at GlobalBlock, said.
