Main navigation

Grayscale Adds $3.3 Billion Worth of Bitcoin and Other Crypto AUM in One Week

News
Wed, 01/06/2021 - 10:13
article image
Yuri Molchan
Major fund Grayscale now stores a whopping $23.3 billion in crypto, including Bitcoin, Ethereum, Litecoin, etc - that's an additional $3.3 billion in less than a week
Grayscale Adds $3.3 Billion Worth of Bitcoin and Other Crypto AUM in One Week
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

Barry Silbert's Grayscale Investments has announced that the total amount of crypto it holds for its clients now equals more than an eye-popping $23 billion.

It has added $3.3 billion is less than a week.

Grayscale adds $3.3 billion, now holds $19.5 billion in Bitcoin

On Jan. 5, Grayscale announced on Twitter that the overall amount of crypto assets under its management totaled a mammoth $23.3 billion.

BTC
Image via Twitter

On Jan. 1, the company spread the word that it had reached the level of $20 billion crypto assets under management, which means that it added a whopping $3.3 billion to its crypto stash in merely four days.

Grayscale conducts purchases of Bitcoin, Ethereum and other digital assets constantly, although in December it announced that it had suspended cash inflows from investors. Still, data showed that Grayscale customers are still hungry for Bitcoin.

Recently, major Bitcoin critic and head of Euro Pacific Capital, Peter Schiff, referred to Grayscale as the biggest Bitcoin buyer, sharing his negative forecast for the company's BTC acquisition in the future.

Grayscale offers its clients exposure to ten crypto-based products, with Grayscale Bitcoin Trust (GBTC) being the most popular with investors. Total Bitcoin inflows now represent $19.5 billion.

As for the second most popular coin both on the market and with the company, the company holds $97.5 million in Ethereum.

Related
Grayscale Removes XRP from Its Digital Large Cap Fund

Grayscale excludes XRP from its major fund

On the same day, Grayscale announced that, after a quarterly review, it had dropped Ripple's XRP token from its Digital Large Cap fund.

Now, the DLC fund is composed of only Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Nothing was said about eliminating Grayscale XRP Trust, though.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.