Grayscale's Crypto AUM Shrink to $24.2 Billion As It Loses Another Billion USD in One Day

News
Sat, 01/23/2021 - 08:48
article image
Yuri Molchan
Grayscale crypto asset management fund has shared that it now holds one billion of AUM less as Bitcoin keeps trading in a range
Grayscale's Crypto AUM Shrink to $24.2 Billion As It Loses Another Billion USD in One Day
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

In a tweet published on January 22, Grayscale Investments team announced that the aggregate amount of crypto held by the fund under management totaled $24.2 billion.

That’s approximately $1 billion less than mentioned in a tweet a day earlier.

Grayscale’s crypto stashes keep shrinking in value

As Bitcoin continues trading in a range after recovering from a fall below $30,000 on Friday, Grayscale’s worth of crypto assets seems to become smaller.

On Friday, the flagship cryptocurrency went from a low of $29,350 to the $32,587 level and then managed to regain the $33,666 mark.

However, Grayscale published its tweet with the $24.6 billion AUM figure before Bitcoin went up above $33,500.

The table shared by Barry Silbert’s crypto hedge fund shows that the value of all of its crypto assets shrank – from Bitcoin to Zcash.

BTC
Image via Twitter

As reported by U.Today on Friday, Grayscale had made an acquisition of a whopping $1,276,147,151 worth of Bitcoin - 35,159.01978857 BTC.

At today’s BTC rate, this amount in USD has lost around $100 million and represents $1,156,042,634.

BTC
Image via CoinMarketCap

Related
Grayscale Acquires $1,276,147,151 in Bitcoin in Single Week

Grayscale lays foundation for LINK, BAT, XTZ and two other Trusts

Crypto news outlet CoinDesk has reported that Grayscale has filed documentation for setting up five more cryptocurrency trusts.

Among them is the top-seven cryptocurrency Chainlink (LINK, one of the top DeFi platforms), 19-ranked Tezos (XTZ), Basic Attention Token (BAT), Livepeer (ranked 245) and Decentraland (MANA), ranked 82.

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.

thecryptobuds