Cryptocurrency
Grayscale adds a ‘cool $300M’ in a day and $1B this week
Grayscale adds a ‘cool $300M’ in a day and $1B this week: Cointelegraph reports, “Crypto fund manager Grayscale Investments has increased its assets under management (AUM) by $1 billion in the space of a week. According to an update posted to Grayscale’s Twitter account on Oct. 22, the investment firm currently has $7.3 billion in assets under […]
Grayscale adds a ‘cool $300M’ in a day and $1B this week:
Cointelegraph reports, “Crypto fund manager Grayscale Investments has increased its assets under management (AUM) by $1 billion in the space of a week.
According to an update posted to Grayscale’s Twitter account on Oct. 22, the investment firm currently has $7.3 billion in assets under management (AUM). That’s a billion-dollar increase on the $6.3 billion AUM Grayscale reported on Oct. 15. Each report is delayed by 24 hours so it refers to the previous day’s figure.
The funds are mostly held in Grayscale’s trusts for Bitcoin (BTC) and Ethereum (ETH), along with the firm’s digital large cap fund. The most recent spike is likely linked to the surge in crypto market prices following the recent news PayPal would offer crypto payments from 2021.
Grayscale reported its Litecoin (LTC) Trust had increased the most since the previous day’s report, by more than 7.5%. The company’s Zcash (ZEC) Trust increased by more than 6% in the same period. The firm also has small allocations in Ethereum Classic (ETC), Horizen (ZEN), Stellar Lumens (XLM), XRP, and Bitcoin Cash (BCH)…”