The value of crypto assets managed by Grayscale Investments reached $13 billion

The value of crypto assets managed by Grayscale Investments reached $13 billion

The dollar value of crypto assets managed by Grayscale Investments has reached a new record of $13 billion. This is due to both the growth of cryptocurrency prices and the growth of the company’s investments.

According to Grayscale’s Twitter account, the value of crypto assets under the firm’s management reached $13 billion this week. Grayscale Investments invests in BTC, BCH, ETH, ETC, ZEN, LTC, XLM, XRP, and ZEC. In less than a month, the company managed to increase the capitalization of funds by $1 billion due to the growth of the cryptocurrency industry.

Grayscale Bitcoin Trust (GBTC) accounts for 83% of the total amount of $13 billion. This fund remains the most popular option for cryptocurrency investors.

However, according to Grayscale Managing Director Michael Sonnenshein, the company is also being approached by investors interested solely in ETH.

“During 2020, we have noted a new group of investors who are focused on ETH, and in some cases only on this crypto asset. Confidence in ETH as an asset is growing. The development of the asset class continues to grow.”

In just one month, Grayscale managed to increase the amount of ETH in its portfolio by 365,000 coins. Overall, the Grayscale Ethereum Trust (ETHE) manages ETH worth about $1.7 billion at the current exchange rate. Overtaking Ethereum Classic, Litecoin became the third largest asset under the company’s management. The total value of LTC in the Grayscale Litecoin Trust is $74.8 million.

Recall that a month ago, the total value of crypto assets managed by Grayscale Investments reached
$10.4 billion for the first time. In the third quarter of 2020, investments in the company’s trusts amounted to a record $1.05 billion.

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