Grayscale’s Cryptocurrency Assets under Management Crosses $40 Billion

Grayscale, the world’s largest cryptocurrency asset manager, crossed $40 billion in digital assets under management (AUM) after Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term registered all-time highs. The crypto asset manager purchased 38 Bitcoin in the last 24 hours as the total value of Grayscale’s Bitcoin holding jumped above $34 billion for the first time. The firm has a total of 654,000 BTC under management.

According to an official announcement, Grayscale’s digital assets under management jumped above $40 billion today after Bitcoin and Ethereum crossed $52,000 and $1,900 respectively. As of writing, the total value of Grayscale’s cryptocurrency assets stands at around $40.9 billion.

The asset manager has accelerated its accumulation of digital currencies since the start of 2021. Grayscale started this year with $20 billion in digital assets under management. The company mentioned in its latest Q4 2020 report that institutional investors accounted for more than 90% of inflows last year.

Ethereum is the second-largest holding of Grayscale as the firm has 3.15 million ETH under management with a total value of $5.85 billion. The company purchased 20,095 Ethereum worth nearly $38 million in the last 24 hours. The asset manager bought 75,000 Ethereum in the last 7 days.

Cryptocurrency Holdings

Despite the reason that the company terminated its XRP Trust after the SEC’s lawsuit against Ripple. Grayscale has rapidly increased its accumulation of several other cryptocurrency assets including Litecoin, Bitcoin Cash and Ethereum Classic. The New York-based firm purchased 740 LTC in the last 24 hours as the total value of the company’s Litecoin holding crossed $328 million. Grayscale has more than 1.39 million LTC under management. Furthermore, the firm purchased 86 Bitcoin Cash in a single day after BCH posted significant gains in the last few days. The total value of the company’s BCH holding stands at around $204 million. Grayscale has 12.28 million Ethereum Classic under management with a total value of $186 million.

Last week, the company filed to register a new cryptocurrency trust for decentralized finance platform Yearn Finance (YFI).