For several months, Grayscale Investments has been increasing its cryptocurrency stash. Yesterday, we reported that the firm purchased an additional $100 million worth of Bitcoin and Ethereum. Touted as the world’s largest crypto asset management firm, Grayscales’s cryptocurrency asset under management (AUM) has now surpassed $13 billion.
12/14/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@Grayscale) December 14, 2020
Total AUM: $13.0 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/3KCMu0z8Dy
Within the last month, the firm has added around $1 billion worth of inflows.
Looking at a breakdown of the company’s assets under management, it is clear that Bitcoin is still king. Grayscale’s Bitcoin Trust (GBTC) has approximately $10.83 billion under management. This accounts for around 83% of the afore-mentioned 13 billion figure.
As expected, its Ethereum Trust is the second most-preferred category with $1.72 billion worth of Ethereum. Michael Sonnenshein, the firm’s managing director, however noted that they are witnessing an influx of new “Ethereum-only” investors. He said:
“Over the course of 2020, we are seeing a new group of investors who are Ethereum-first and in some cases Ethereum-only. There’s a growing conviction around ETH as an asset class. The development of the asset class has continued to solidify itself.”
Meanwhile, other crypto assets in the firm’s portfolio (in descending order) include Litecoin ($74.8 million), Ethereum Classic ($74.3 million), Bitcoin Cash ($58.6 million), Ripple ($18.5 million), Zcash ($13.6 million), Horizen ($5.7 million), and Stellar ($3.9 million).
