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- Grayscale’s overall assets under management reached $46.4B, with their most significant contributing $38.2B in Bitcoin, followed by $6.7B in Ethereum.
- The asset manager exhibited a significantly increased interest in Ethereum-accumulation during the first two months of 2021.
- Ethereum’s recent price surge, registering an all-time high of $2,152, provided a significant push to Grayscale’s Ethereum holdings’ total value.
One of the world’s largest cryptocurrency investment funds manager, Grayscale Investment, on Wednesday announced that it now holds a total of 3.1 million Ethereum tokens (ETH) under management, equating to nearly $6.7 billion.
Grayscale Investments’ Overall Holdings
The U.S.-based crypto services provider made an official post asserting the company’s overall worth, while under-management assets have reached $46.4 billion. The largest chunk is Bitcoin, with over 650,000 tokens worth approximately $38.2 billion. And next in line is Ethereum.
Increasing Interest in Ethereum
The digital currency investing leader exhibited a significantly increased interest in Ethereum-accumulation during the first two months of 2021. In December of 2020, Grayscale CEO Michael Sonnenshein hinted at a growing institutional interest in Ethereum-related investment products. Moreover, the asset management firm recently released a report highlighting ETH’s upcoming network upgrade’s potential benefits.
Grayscale maintains a broad range of investment funds, along with Bitcoin and Ethereum. It has Litecoin investment trust, Bitcoin Cash investment trust, Ethereum Classic investment trust, and Stellar Lumens trust.
Funds Invested in Chainlink
Announced just a day prior, the asset manager, with the addition of Chainlink to their recently launched Grayscale Chainlink Trust, rebalanced its digital large-capitalization Fund. In the press release, the company divulged it sold the then existing “Fund Components” concerning their respective weights and invested the proceeds in purchasing Chainlink (LINK) as per the Fund’s construction criteria.
Grayscale Scaling Staggeringly
More than 90% of Grayscale’s overall under-management cryptocurrency assets comprise Bitcoin and Ethereum. However, it’s worth mentioning, the digital asset service company just recently in March extended its offerings by introducing five new investment trusts, namely:
Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT).
The recent Ethereum price surge provided a significant push to Grayscale’s Ethereum holdings total value. On 3rd April, the digital currency registered an all-time high of $2,152 and is currently trading at around $2,129.39.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
