Grayscale Investments Shoots Past $2 Billion In Bitcoin And Crypto Assets Under Management

Grayscale Shots Past $2 Billion In Assets Under Management

  • The surge in crypto prices has Grayscale Investments’ assets under management surging to $2.1 billion
  • Bitcoin alone makes for $1.9 million AUM

The assets under management of the digital currency asset manager, Grayscale Investments has surged past $2 billion as Bitcoin price shot up above $8,000 and close to $9,000.

The venture capital company Digital Currency Group manages the digital currency investing firm Grayscale Investment Trust that was launched in 2013. Over the years, it added other digital assets to its fund covering Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Stellar, XRP, Zcash, and Horizen.

Barry Silbert, the founder and CEO of Digital Currency Group and its subsidiary Grayscale Investments took to Twitter to share this piece of information.

Among these funds, Bitcoin has the highest share amounting for $1.97 million out of the total $2.1 billion digital assets under management. Bitcoin is followed by Ethereum Classic, Ethereum, Zcash, Bitcoin Cash, XRP, Horizen, Litecoin, and finally Stellar Lumens.

This surge in assets under management of Grayscale attributes to the rise in the cryptocurrency prices. In the past 30 days, Bitcoin (BTC) has surged 67.9 percent, Ethereum (ETH) is up by 75.9 percent, XRP by 50.6 percent, Bitcoin Cash (BCH) by 80.2 percent, Litecoin (LTC) by 69.5 percent, Stellar (XLM) by 43. 5 percent, Ethereum Classic (ETC) by 46.4 percent, Zcash (ZEC) by 44.2 percent, and Horizen (ZEN) has seen an uptrend of 62.8 percent.

Bitcoin Will Become The Store Of Value Of Today’s Digital Age

Back in December 2018, Diar research has revealed that Grayscale Bitcoin Investment Trust covers 1 percent of the Bitcoin’s circulating supply, which has been seeing continuous month on month growth.

One of the largest institutional investment firms in the crypto space recently ran a “DropGold” campaign, aiming to make “investment portfolios to reflect that bitcoin has become digital gold for today’s forward-thinking investors.”

At that time, Silbert had shared that millennials will make the shift from gold to digital gold as “There is a generational shift in how individuals are approaching investing.” He “strongly” believes that the investment in gold will be relocated to the world’s top cryptocurrency as the wealth of Baby Boomers gets transferred to the younger generations that weren’t raised on the gold standard.

Silbert argued that gold is an overpriced metal but Bitcoin has superior physical properties and market utility which he believes will become the store of value of today’s digital age.

Though Bitcoin’s volatility is seen as the detriment factor, Bitcoin proponents argue that its unique use case and low correlation with the traditional asset class makes for a must inclusion in a portfolio for diversification.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide