Victor Ugochukwu · Dec 14, 2020 . 5min read
Grayscale’s total asset under management – AUM exceeds $7 billion
The largest institutional fund, Grayscale has crossed the $7 billion mark in total asset under management.
By Victor Ugochukwu · Oct 22, 2020 . 5min read
Grayscale has crossed the $7 billion mark in total asset under management according to a recent report released via its official Twitter. The largest institutional fund in Bitcoin and cryptocurrencies have been nothing but beyond impressive this year amidst the severe market shakedown due to coronavirus pandemic.
According to the Grayscale’s tweet report on its total asset under management, its Bitcoin trust holdings is $5.79 billion followed by a distant $897 million Ethereum trust. The hedge fund’s asset under management also comprises of Digital Large Cap fund at $103 million, Ethereum Classic trust at $67.6 million. Recently added Bitcoin Cash and Litecoin trusts are $45 million and $31 million respectively. Privacy coin Zcash trust is the last of its double-digit million at $10.9 million. The rest, including Stellar Lumen and XRP trusts, are $1.3 and $7.9 million respectively.
The cryptocurrency hedge fund established its Bitcoin Trust in 2013 and has since continued to grow impressively. For instance, it released its Q3 earnings report showing it surpassed its previous all-time revenue set the previous quarter. Beyond that, the largest institutional funds focusing on cryptocurrencies and digital assets is on record to have purchased 77% of all bitcoins mined in Q3. By then, Grayscale’s total asset under management has increased to $5.9 billion. Hence, between when it released its Q3 reports, and now, its total AUM has jumped by at least $1 billion.
Grayscale’s growing Bitcoin trust and robust total asset under management boost its share of total Bitcoin supply.
The hedge fund is already the largest institutional entity in digital assets in Bitcoin and Ethereum trust. Grayscale now boasts of at least 53,588 BTC in its vaults. What this means is that Grayscale now controls at least 2.5 bitcoins in circulation. And projections point to 3.4 Bitcoin circulating supply before January 31, 2021.
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