As the interest in digital assets spikes, Grayscale’s total AUM is becoming one of the fastest-growing trusts in the in industry.
Grayscale‘s total AUM (Assets Under Management) now holds at $49.2 billion, a $3 billion increase compared to its previous $46.1 AUM in less than four days.
Now the Grayscale Bitcoin Trust (GBTC) has 40,535 million in total AUM, while the Ethereum Trust (ETHE) holds $7,067 million. Other important assets that make up that total are the Grayscale Bitcoin Cash Trust, with 208.5 million and the Litecoin Trust, with 392.4 million.
04/13/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $49.2 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC $BAT $LINK $MANA $FIL $LPT pic.twitter.com/p0KICtae26
— Grayscale (@Grayscale) April 13, 2021
This increase follows Bitcoin new all-time high of $62,000 and other currencies settling new records, like BNB and Ethereum, which surpassed prices of $600 and $2,200, respectively.
Grayscale’s AUM Growing at a Fast Rate
As the interest in digital assets spikes, Grayscale’s total AUM is becoming one of the fastest-growing trusts in the in industry. The recent increase came in less than four days when it was holding at $46.1 billion. By April 9 the trust increased its total AUM by $1 billion in just 24 hours.
The addition of new tokens to its list of trust offerings gave the total AUM a boost as well. As reported, Grayscale added five new tokens to amplify its crypto-trusts, integrating Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT). These tokens saw a boost in price after the announcement, surging 50 to 70% in most cases.
Michael Sonnenshein has stated that the firm has seen a large inflow of accredited investors and clients seeking exposure to crypto assets as well. He added that institutional interest is “nowhere near the end,” as Bitcoin poises for another possible bull run.
Grayscale also confirmed its plan to turn its GBTC into a fully operable Bitcoin Exchange-traded fund, after posting several ETF-related job positions on its career page. While other elite investment firms have filed S-1 forms to the Securities and Exchange Commission, Grayscale has stated that the current regulation weather is not suitable for a BTC ETF. However, the firm will look into turning its GBTC into an ETF as the regulatory environment in the United States becomes clearer.
“This is a subject that Grayscale has been examining closely from both a commercial and regulatory perspective for several years. While several firms have submitted Bitcoin ETF applications in the form of an S-1 or 19b-4 to the SEC, we are confident in our current positioning and engagement with the SEC”.
Read other news from the crypto industry here.
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