Grayscale Investments has surpassed $10 billion in cryptocurrency assets under management. About $8.85 billion are held in the Grayscale Bitcoin Trust, which now holds more than 500,000 bitcoins.
Over $10 Billion Under Management
Grayscale Investments announced Tuesday that it has surpassed a major milestone in cryptocurrency assets under management (AUM), which the total now stands at $10.4 billion. The company offers 10 cryptocurrency products, all of which are single-asset trusts except the Digital Large Cap Fund.
Most of the funds are held in the Grayscale Bitcoin Trust (GBTC), which currently has $8.85 billion in assets under management, followed by the Ethereum Trust with $1.22 billion, and the Digital Large Cap Fund with $146.7 million. In addition, the company announced Monday that the Grayscale Bitcoin Trust now holds more than 500,000 BTC.
In the third quarter, Grayscale had record-breaking capital inflows totaling $1.05 billion, about 81% of which came from institutional investors, primarily hedge funds. The company further revealed that its Bitcoin Cash, Litecoin, and Digital Large Cap products all saw over 10x growth in inflows compared to the previous quarter.
What do you think about Grayscale’s growth? Let us know in the comments section below.
The post Grayscale Surpasses $10 Billion in Crypto Under Management With Over 500,000 BTC in Bitcoin Trust appeared first on Bitcoin News.
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