Grayscale continues to expand as we enter 2021. The digital asset management company informed that they are now managing $20.2 billion in assets. The company is offering different crypto investment products that help traditional investors to get exposure to virtual currencies. This shows the market has been expanding over the last months.
Grayscale AUM Reach $20.2 Billion
The digital asset management firm has informed that their assets under management have reached a total value of $20.2 billion. The largest product is the Grayscale Bitcoin Trust. At the moment, the AUM for the Grayscale Bitcoin Trust is $17.47 billion. This shows that investors are searching for ways to invest in Bitcoin and Grayscale provides users with this information.
The second-largest product offered by this company is the Grayscale Ethereum Trust. Ethereum is the largest altcoin in the cryptocurrency market. At the moment, the Grayscale Ethereum Trust accounts for $2.17 billion in assets under management. Ethereum is a blockchain network that can be used to run smart contracts, decentralized applications and more.
In the third position, we find the Grayscale Litecoin Trust with $145 million in assets under management. Litecoin is also one of the largest altcoins in the world. Indeed, after Ethereum (ETH) and XRP, LTC is the virtual currency with the largest market capitalization in the world. Litecoin has been growing as a digital currency that aims at helping Bitcoin process transfers in a faster and cheaper way.
The company is also offering other investment products. The other include virtual currencies such as Ethereum Classic (ETC), Horizen (ZEN), Stellar Lumens (XLM), XRP, Zcash (ZEC) and a “Digital Large Cap Fund.” Nevertheless, the largest remains the Grayscale Bitcoin Trust.
It is worth mentioning that in recent months a large number of companies has invested in Bitcoin. The goal for them is to search for an insurance policy against devaluating fiat currencies around the world.
Some of these companies include Square, MicroStrategy, MassMutual and Ruffer, among others. This shows that large investors and institutions are entering the cryptocurrency market. This could have a very positive effect on the price of Bitcoin. With its lower issuance after the halving event of 2020 and with a large demand from the market, it might be possible for BTC to continue growing in the future.
At the time of writing this post, Bitcoin has a price of $29,230 and a market valuation of $541 billion.