Grayscale, a major digital asset management fund, has continued to grow this year, with its total assets under management (AUM) hitting new highs.
On May 19, it has been reported that Grayscale’s total AUM hit $3.8 billion by surging over 80% from $2.1 billion in May 2019.
05/19/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products. Total AUM: $3.8 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/q2SMsqfMbq — Grayscale (@GrayscaleInvest) May 19, 2020
However, Grayscale’s Bitcoin (BTC) trust has continued to lead other cryptocurrencies in the fund, accounting for $3.36 billion, or 89% of the firm’s total AUM, as the value of Grayscale’s Bitcoin investment trust surged 76% from last year’s $1.9 billion.
At the same time, Grayscale’s Bitcoin trust’s share saw a small drop, slipping from 94% in May 2019.
It has been analyzed that the massive value spike of Grayscale’s Bitcoin trust comes amidst a significant increase in BTC price year-on-year. As of press time, Bitcoin trades at $9,745, up around 30% from $7,600 one year ago.
Grayscale’s Bitcoin holdings denominated in U.S. dollars surged 76% since May 2019 from $1.8 billion to $3.36 billion https://t.co/tp9Fx9FVPA — Cointelegraph (@Cointelegraph) May 20, 2020
The data said that Grayscale Ethereum (ETH) Trust is now the second-largest trust among the total 10 trusts in the fund. Grayscale ETH trust accounts for $289 million and is followed by Grayscale Ethereum Classic (ETC) Trust, which holds $73 million.
As per the report, Grayscale became the first digital asset trust that started reporting to the SEC in January 2020.
In April 2020, Grayscale reported that the firm was holding about 1.7% of all of Bitcoin’s supply in its Grayscale Bitcoin Trust.
Thus, at the time, the firm also said that it saw its biggest quarter ever even if the economic crisis fueled by the COVID-19 pandemic.
Grayscale is a major global crypto investment fund created in 2013 by Digital Currency Group. The fund is regulated by global authorities like the United States Financial Industry Regulatory Authority and Securities Exchange Commission (SEC). If you want to know more in detail, click here.