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Grayscale Reaches $52 Billion in Digital Assets Under Management


cryptoknowmics.com 08 May 2021 09:40, UTC
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Investment giant, Grayscale started this year with a total of $20 billion worth of digital assets under management. Yesterday the company announced that the total valuation of the company’s crypto assets under management (AUM) has reached nearly $52 billion. The crypto boom in Bitcoin and Ether has helped Grayscale generating that much revenue.

Grayscale Reaches $52 Billion in AUM

According to an official announcement, Grayscale’s total digital assets under management currently stands at around $51.8 billion.

The company has now more than 650,000 Bitcoin under management with a total value of over $37 billion. Its Grayscale Bitcoin Trust, charges a 2% annual fee, generating $756 million in estimated revenue on its AUM.

Ethereum is the second-largest holding of Grayscale with more than 3 million ETH worth over $11 billion. The firm is one of the largest institutional holders of the world’s second-most valuable cryptocurrency.

Grayscale’s Bitcoin and Ethereum funds generate nearly $1 billion in estimated combined revenue.

Both Bitcoin and Ether’s respective year-to-date rising about 100% and 300% have helped in boosting Grayscale’s assets under management to record levels.

Meanwhile, Ethereum Classic (ETC) is the third-largest holding of the asset manager with more than 12 million ETC under management with a total value of over $1.6 billion.

The cryptocurrency is currently the 14th most valuable cryptocurrency in the world with a market cap of more than $15 billion. The altcoin is currently trading at $118 and has gained nearly 225% within the last 7 days.

Crypto Whale Expands Its Digital Assets Portfolio

Beyond Bitcoin and Ethereum, Grayscale has expanded its cryptocurrency portfolio with the introduction of Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT) investment trusts.

Earlier this week, Grayscale generate as much revenue as Vanguard does from its suite of 82 ETFs, according to ETF.com. to which analyst Sumit Roy says:

“For Grayscale to generate close to $1 billion from just two products the amount Vanguard takes in from all 82 of its ETFs  is truly impressive.”

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