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Grayscale Adds $300 Million in Cryptocurrency Assets Under Management in Just 24 Hours

Grayscale Adds $300 Million in Cryptocurrency Assets Under Management in Just 24 Hours


Grayscale Investments said Thursday that it added $300 million in net assets under management (AUM) in just the last 24 hours.

    • The firm now has a record $7.3 billion in total AUM, according to a tweet by Barry Silbert, chief executive officer of the Digital Currency Group, Grayscale’s parent company.
    • The biggest daily increases were reported in the litecoin trust, whose value rose 8% to $34.3 million.
    • The bitcoin trust remains Grayscale’s biggest portfolio, inching 4% to $6 billion. The ETH and BCH trusts rose 4.9% and 4.6% respectively. Others gained between 2% and 6%.
    • Grayscale profited from surging institutional interest in bitcoin. Paypal’s unexpected dive into crypto this week appears to have lit the markets up.
    • The announcement pushed the price of bitcoin above $13,000 on Wednesday, a 2020 high – and so with it Grayscale’s trusts’ valuations.
    • The $300 million Grayscale added represents a significant increase over the $1.05 billion in investments that it amassed over a whole 90-day period during the third quarter of 2020.

As corporate interest in bitcoin continues to increase, institutional-investor focused entities like Grayscale are also expected to continue to experience immense growth.

What do you think about Grayscale adding $300 million in a day? Share your views in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons





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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin17,088 1.15 % 11.19 % 4.16 %
Ethereum513.14 0.52 % 14.29 % 7.03 %
XRP0.5273 0.93 % 23.74 % 79.28 %
Tether0.9984 0.13 % 0.12 % 0.07 %
Bitcoin Cash276.42 0.95 % 20.13 % 12.09 %
Chainlink12.56 0.08 % 18.73 % 7.32 %
Litecoin73.83 1.35 % 16.77 % 0.06 %
Polkadot4.750 1.34 % 15.09 % 1.37 %
Cardano0.1360 0.25 % 21.10 % 27.34 %
Binance Coin28.42 1.05 % 15.22 % 1.24 %