Grayscale Total Assets Under Management Surpasses $10 Billion

UTC by Steve Muchoki · 2 min read
Grayscale Total Assets Under Management Surpasses $10 Billion
Photo: Depositphotos

Grayscale previously reported that as of October 30, the total assets under management stood at $7.6 billion. In less than a month it has hit a new milestone.

Leading digital currency investment firm Grayscale Investments LLC has reported that its total assets under management (AUM) have surpassed the $10 billion level as of November 17. According to an official update on its Twitter page, the net assets under management stand at $10.4 billion.

Whereby Grayscale Bitcoin Trust leads with $8.851 billion. Ethereum follows with $1.221 billion. Bitcoin Cash and Litecoin have $46.3 million and $58 million respectively.

Notably, Grayscale previously reported that as of October 30, the total assets under management stood at $7.6 billion. Besides being one of the largest crypto investment firms, the company recently reported that it has 500K Bitcoins in its trust fund.

Although most digital assets under grayscale’s management led by Bitcoin have experienced upward volatility in the past few weeks, the company’s Managing Director Michael Sonnenshein tweeted Friday that it received $262.3 million.

Apparently, according to Grayscale’s recent market report, digital assets are still only a tiny fraction of the size of other markets. Whereby with the crypto market capitalization at $502,468,600,520 at the time of reporting according to CoinMarketCap, the global debt stands approximately at $255,000 billion. Notably, the value of the FAANG stocks is around $5.42 trillion.

Grayscale Investment Prospects

During the pandemic, global crypto adoption has seen a sharp spike as more people find alternative payments free from devaluation. Analysts predict that as digital assets gain more market utility, their value is poised to skyrocket in the near future.

This makes digital assets a good store of value and also as instruments of global trade. Having proved to withstand market uncertainty during the height of the coronavirus crisis, if a new coronavirus infection wave hits globally then the digital assets market will rally as predicted.

However, the digital assets come with their own risks, with scams leading the list. Grayscale investment managers urge investors to diversify their funds into different opportunities. Moreover, many digital assets appear to be imperfectly correlated to one another. Therefore, there stands a lot of benefits to holding multiple digital assets within a portfolio.

Grayscale supports up to nine single asset investment trusts including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, XRP, ZCash, Steller, Horizen and Ethereum Classic.

At the time of writing, Bitcoin was trading around $18,005.74 having jumped approximately 7.7% in the past 24 hours. Notably, most digital assets experienced different volatility in the past 24 hours thus showing the independence of the upcoming rally.

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Steve Muchoki
Author Steve Muchoki

Let’s talk crypto, Metaverse, NFTs, CeDeFi, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!

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