As GBTC Bitcoin Stack Slows, Grayscale Builds Up Alternative Crypto Assets

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Founded in 2013, Grayscale Investments has succeeded in becoming the world’s largest asset manager for digital currency. While starting with bitcoin, the company has since added a myriad of different crypto assets as Grayscale orders $ 36.34 billion in assets under management (AUM) between 13 different digital currencies. While the asset manager has a hefty sum of bitcoin, ethereum, and ethereum classic, in recent times Grayscale has stacked a slew of other coins.

Grayscale’s attention is apparently focused on alternative crypto assets

Since the asset manager started seven years ago, Grayscale Investments has accumulated a lot of cryptocurrency. Right now, the company is the world’s largest asset manager when it comes to cryptocurrency management.

The company first introduced the Grayscale Bitcoin Investment Trust (OTCQX: GBTC) and since then has added 12 unique cryptocurrencies to the company’s investment products. Data provided by 1000x.group’s institutional dashboard shows that Grayscale hasn’t really stacked bitcoin (BTC) this year.

The approximate amount of 1000x.group of bitcoin (BTC) held by Grayscale on July 31, 2021.

The chart that shows the approximate amount of bitcoin (BTC) held by Grayscale remained stable in 2021. In fact, quarterly institutional investment statistics from 1000x.group (not cumulative) that separate bitcoin inflows from alternative digital assets indicate that Grayscale has accumulated a large number of other crypto assets.

The value of assets under management and total holdings of each fund in grayscale according to data from Bybit.com was recorded on July 31, 2021.

Statistics from bybt.com additionally show the same as BTC, ETH and ETC purchases have not been seen in the last 30 days. Seven-day statistics show increases in Litecoin (LTC), Bitcoin Cash (BCH) and Zcash (ZEC). The weekly statistics also show an increase from coins like stellar (XLM), chainlink (LINK) and filecoin (FIL). Monthly data shows an increase in all crypto assets on offer in grayscale except BTC, ETH, ETC and XLM.

GBTC is still the largest fund in Grayscale, Grayscale has 2 digital currency fund baskets

Grayscale’s biggest holdings in terms of fiat value is bitcoin (BTC), as they hold 650.27K BTC worth $ 27.15 billion at the time of writing. In terms of more tokens held, that would be 72 million stars (XLM), but the XLM stash is only valued at $ 20.73 million. Grayscale owns 3.15 million Ethereum (ETH) worth $ 8 billion and Ether is the second largest holding in terms of fiat value.

Grayscale also owns 12.3 million classic ethereum (ETC) valued at $ 636.76 million and 1.58 million litecoin (LTC) valued at $ 229.64 million. At the time of writing, Grayscale holds 319.4K bitcoin cash (BCH) worth approximately $ 175.52 million on Sunday. The company also has two diversified funds which constitute a basket of different digital currencies. Grayscale recently introduced its Decentralized Financing Fund (challenge) and today has $ 6.3 million in assets under management. The company’s large-cap fund has $ 403.2 million in assets under management between BTC, ADA, BCH, LTC, LINK and ETH.

What do you think of Grayscale stacking a lot of alternative digital currencies instead of bitcoin? Let us know what you think of this topic in the comments section below.

Tags in this story 1000x Group, ada, Altcoins, Alternative Crypto Assets, assets under management, AUM, BCH, Bitcoin (BTC), bitcoin cash, BTC, bybit.com, data, DeFi fund, Digital Cap Fund, ETC, ETH, Finance, Grayscale, Grayscale Funds, Grayscale AUM, LiNK, LTC, Statistics, XLM

Image credits: Shutterstock, Pixabay, Wiki Commons, 1000x.group, bybit.com,

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