It announced that its net asset (AUM) under management of graysdale had reached $ 13 billion. The increase in the number confirms the increased interest of institutions in cryptocurrencies.
In recent months, there has been a corporate interest in bitcoin (BTC) and the cryptocurrency market. An increase in assets under management (AUM) of graysdale investment, an enterprise-level cryptocurrency investment and management company, is evidence of this situation. The cryptocurrency valuation, which is currently under the company’s management, reached $ 13 billion as tweeted earlier today.
$ 13 Billion Led By Bitcoin
This new milestone Grayscale has reached comes from ten cryptocurrencies that have shown tremendous growth in 2020. The Bitcoin Trust continues to dominate its asset valuation, which has risen to $ 10,821.8 million, representing about 83 percent of the net assets under management. The second-largest product in grayscale is Ethereum Trust, which accounts for about 13% of the $ 1,722.5 million to $ 13 billion.
The investment company’s assets have been growing exponentially over the past four months. As of August 18, the company had reported a net worth of $ 6.1 billion for ten cryptocurrency products. Since then, Grayscale’s reported statistics have increased by more than 113%. This shows the growing interest in cryptocurrencies by institutional investors. In particular, monthly inflows to the company’s Bitcoin Trust product have been rising since November.
Not Just Grayscale
Canada’s leading digital asset investment company, 3iQ’s bitcoin fund, is also in high demand. The company bought a significant amount of Bitcoin on December 1, increasing the amount of Bitcoin to 16,454 BTC. The value of Bitcoin under the company’s management has topped $ 317 million, up more than 117% in the past three months.