Bitcoin Holdings of Grayscale Growing 76% Per Year Hitting New Highs
May 20, 2020 7:55 pm
Grayscale, an American major digital asset management fund, has continued to grow this year, with the total assets under management (AUM) hitting new highs $3.8 billion.
A tweet on May 19, Grayscale announced its total AUM hit $3.8 billion, rising over 80% from $2.1 billion in May 2019.
Bitcoin Trust Continues To Grow
Last year the value of Grayscale’s Bitcoin investment trust climbed 76% from last year’s $1.9 billion and at the same time, during May 2019, Grayscale’s Bitcoin trust’s share noticed a little fall, slipping from 94%.
Grayscale’s Bitcoin (BTC) trust has maintained to lead other cryptocurrencies in the fund, accounting for $3.36 billion, or 89% of the firm’s total AUM.
The huge value peak of Grayscale’s Bitcoin trust comes in a significant rise of BTC price year-on-year. According to press time, Bitcoin trades at $9,745, up around 30% from $7,600 one year ago.
Per the data, Grayscale Ethereum (ETH) Trust, accounts for $289 million is now the second-largest trust among the total 10 trusts in the fund and is followed by Grayscale Ethereum Classic (ETC) Trust, which carries $73 million.
Grayscale is a major global crypto investment fund, created by Digital Currency Group in 2013. The fund is regulated by global authorities like the United States Financial Industry Regulatory Authority (FINRA) and the Securities Exchange Commission (SEC). Grayscale reportedly became the first digital asset trust that started reporting to the SEC in January 2020. Grayscale proclaimed, the firm was holding about 1.7% of all of Bitcoin’s supply in its Grayscale Bitcoin Trust, in April 2020. At the time, the firm also stated that it marked its highest quarter ever despite the crisis caused by COVID-19 pandemic.