Home Cryptocurrency Total Assets Under Management Of Grayscale Have Grown To $3.3 Billion

Total Assets Under Management Of Grayscale Have Grown To $3.3 Billion

  • A recent tweet by Grayscale’s official Twitter account mentioned that on February 19, 2020, “Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
  • Grayscale Trust is a digital currency investment platform that allows users to buy and sell cryptocurrency in their brokerage accounts.

A recent tweet by Grayscale‘s official Twitter account mentioned that on February 19, 2020, “Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products. Total AUM: $3.3 billion.”

This update comes after a similar update made on February 18, 2020, when the Net Assets Under Management Holdings per Share, and Market Price per Share for their Investment Products had a total AUM of $3.2 billion.

Grayscale Trust is a digital currency investment platform that allows users to buy and sell cryptocurrency in their brokerage accounts.

Recently, on January 21, 2020, the company became an SEC reporting company after registering its shares with the commission. This registration made it the first digital currency investment company to attain the status of a reporting company.

With the gain of this status, the investors, who are accredited and purchased shares in the Trust’s private placement, will get an option for earlier liquidity. The duration for liquidity has been reduced from 12 months to 6 months for the investors.

The Grayscale Investment trust started as The Bitcoin Investment Trust on September 25, 2013. Over the years, it grew, and now it not only allows investment in Bitcoin but other cryptocurrencies as well.

It was a private placement accredited to investors and went on to receive FINRA approval for eligible shares to trade publicly. This allowed the company to buy and sell public shares of the Trust under the symbol GBTC.

According to Grayscale Investment, this is a traditional investment platform that shares titles in the investor’s name. Even though the Trust is not an ETF, Grayscale states that they have modeled themselves after commodity investment products like the SPDR Gold Trust, a physically-backed ETF.

As per 2019 data, GBTC had approximately $2.16 billion in assets under management (AUM) as well as 2.4 million shares outstanding.

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Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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