Grayscale Now Holds $54.3 Billion in Crypto, $41.5 Billion in Bitcoin
Barry Silbert-affiliated Grayscale Investments has spread the word that, as of Oct. 19, the amount of crypto assets under management stands at over $54 billion, with $40.5 billion of its holdings being in Bitcoin.
10/19/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.— Grayscale (@Grayscale) October 19, 2021
Total AUM: $54.3 billion$BTC $BAT $BCH $LINK $MANA $ETH $ETC $FIL $ZEN $LTC $LPT $XLM $ZEC $UNI $AAVE $COMP $CRV $MKR $SUSHI $SNX $YFI $UMA $BNT $ADA $SOL pic.twitter.com/gpLnx7ZdtV
Grayscale’s worth of crypto AUM soars to $54.3 billion
On Oct. 19, the official Twitter account of Grayscale published data about the worth of the company’s current crypto holdings. According to the tweet, the largest cryptocurrency investment fund, created by billionaire Barry Silbert’s Digital Currency Group, now holds an astounding $54.3 billion worth of crypto under the management of its team.
The company’s Bitcoin Trust holds the largest amount of crypto: $40,502.8 million. The second-largest here is Ethereum Trust, at $11,856.4 million.
According to the Bybt service, the total holdings of Grayscale Bitcoin Trust stand at 647,540 BTC. That is currently worth $41,518,451. Shares of the trust, GBTC, are still trading at a negative premium of -16.56%.
Bitcoin has soared above the $63,000 level on the news of the first Bitcoin ETF beginning to trade on the NYSE.
Grayscale buys more LINK and FIL
Bybt also shows that, over the past seven days, the company has purchased more altcoins for its trusts: 8,118 LINK and 2,839 FIL. Over the past month, the amount of FIL tokens added by Grayscale constitutes 24,108 units.
In other news, Grayscale recently launched the OTC trading of three of its altcoin trusts for private investors. Zcash, Stellar and Horizen trusts were launched on the OTCQX over-the-counter market under the following tickers: ZCSH, GXLM and HZEN.
These Grayscale crypto trusts have still been not registered with the Securities and Exchange Commission and are not subject to disclosure.
Apart from that, Grayscale has recently confirmed its intention to convert the Bitcoin Trust into a Bitcoin ETF. This happened after the first-ever Bitcoin futures ETF in the U.S.—by ProShares—started trading on the New York Stock Exchange on Oct. 19. During the first thirty minutes, the ETF traded a whopping $320 million.
Now Grayscale, spearheaded by CEO Michael Sonnenshein, has filed with the SEC to turn its world’s largest Bitcoin Trust into a spot BTC exchange-traded fund.
Grayscale sells XRP to buy more Bitcoin and Ethereum
Stefan W. Huber, co-president of the Glp Canton of Zug for the Green Liberal Party of Switzerland, has shared some interesting details about Grayscale shutting down its XRP trust at the start of the year. This information is on his LinkedIn page.
According to a screenshot of a document, Grayscale sold its XRP holdings and purchased more Bitcoin and Ethereum with the funds earned on the sale.
Grayscale bought Ethereum & Bitcoin with its XRP sales due to the SEC's action. The SEC not only stole billions from XRP holders, they even made us pay for the gains of ETH/BTC. Joseph Lubin is grinning because the SEC filled his pockets with our money.😐https://t.co/5SP5R8jffQ pic.twitter.com/6riDQ59740— Stefan W. Huber 🌬️🌊🌐 (@Leerzeit) October 19, 2021