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Grayscale Tops $60 Billion, Surpassing World's Largest Gold Fund

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Thu, 11/11/2021 - 07:57
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Alex Dovbnya
Grayscale has eclipsed $60 billion in assets under management
Grayscale Tops $60 Billion, Surpassing World's Largest Gold Fund
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Cryptocurrency money manager Grayscale now controls $60 billion worth of digital assets, according to the firm's Wednesday update.

It has now surpassed SPDR Gold Shares, the biggest and most liquid gold exchange-traded fund in the world, in terms of assets under management.

Grayscale Bitcoin Trust accounts for 71% of the aforementioned sum with $43.5 billion.

The firm's Ethereum fund comes in a distant second place with $14.8 billion.

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Earlier this year, Grayscale launched trust funds for numerous altcoins, as well as a fund that is entirely focused on the decentralized finance (DeFi) industry.

Grayscale, which is a subsidiary of venture capital giant Digital Currency Group, filed to convert its Bitcoin fund into an exchange-traded fund on Oct. 19. However, analysts note that the approval of a spot ETF in the U.S. is extremely unlikely for now.

Digital Currency Group is valued at $10 billion as of early November.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.