An Institutional platform for digital currency investment has posted substantial amounts of funds so far, following the recent bullish trends with Bitcoin and other cryptocurrencies. Grayscale investments most recently posted over $5 billion in assets under management (AUM).
Grayscale investment assets dominated by BTC trust
On Wednesday, the digital currency investing and management company shared on Twitter its overall funds nailed $5.5 billion AUM. This massive figure is most likely due to the recent market rally, and more institutional players. Comparably, the Grayscale funds surged by $700 million more than last week, with the new 2020 price highs of cryptos, especially Bitcoin (BTC) and Ether (ETH).
Following the report from Grayscale investments, its Bitcoin trust dominates the entire funds. The Bitcoin trust accounts for 80 percent of the Grayscale’s assets, which is about $4.5 billion. Notably, BTC trust offers investors the option to invest in the largest cryptocurrency without necessarily engaging in Bitcoin trading.
More Bitcoin Buys
Besides the Bitcoin trust funds, the company also provides this option to investors with other cryptocurrencies such as Ether (ETH), Ripple (XRP), Bitcoin Cash (BCH), Ethereum Classic (ETC) and more. ETH trust is the second-largest fund on Grayscale. It accounts for about $746 million in the company’s $5.5 billion AUM. Read More