Crypto Giant Grayscale Now Manages Almost $ 60,000,000,000 in Total Assets

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Crypto titan Grayscale Investments has nearly $ 60 billion in total assets under management (AUM) after falling crypto market prices pushed their total to $ 58.2 billion on Friday afternoon.

Grayscale’s assets under management include over $ 41.3 billion in the Grayscale Bitcoin Trust and over $ 14.5 billion in the company’s Ethereum (ETH) Trust.

12/11/21 UPDATE: Net assets under management, holdings per share and market price per share for our investment products.

Total AUM: $ 58.2 billion BTC $ BAT $ BCH $ LINK $ MANA $ ETH $ ETC $ FIL $ ZEN $ LTC $ LPT $ XLM $ ZEC $ UNI $ AAVE $ COMP $ CRV $ MKR $ SUSHI $ SNX $ YFI $ UMA $ BNT $ ADA $ SOL pic.twitter.com/gMTlowKZA4

– Grayscale (@ Grayscale) November 12, 2021

Earlier this week, Grayscale briefly overtook SPDR Gold Trust (GLD), the world’s largest gold fund, in AUM terms. SPDR Gold Shares managed approximately $ 58.31 billion in assets as of Nov. 10, according to YCharts.

Grayscale Managing Director Michael Sonnenshein notes on Twitter that the Grayscale Bitcoin Trust (GBTC) also had $ 473.7 million in notional daily volume this week, more than exchange-traded fund (ETF) ProShares Bitcoin Futures, which is called BITO.

… And $ GBTC made $ 473.7 million in notional volume

– Michael Sonnenshein (@Sonnenshein) November 10, 2021

Last month, Grayscale announced its intention to convert GBTC to ETF. Unlike ProShares’ Bitcoin Futures product, Grayscale has filed with the United States Securities Exchange Commission (SEC) a Bitcoin spot ETF, which would track the current price of the crypto asset.

Grayscale initially requested to convert GBTC to ETF in 2016 before withdrawing the request months later, fearing the regulatory environment was not ready for such a product.

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Featured Image: Shutterstock / tsuneomp / Sensvector

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