Barry Silbert, the Chief Executive Officer (CEO) of the cryptocurrency asset management firm Grayscale Investments has provided another update on the company’s digital asset portfolio through a tweet on October 22. According to him, Grayscale has witnessed an increase of $300 million in its Asset Under Management (AUM) within just one day. Moreover, one-billion-dollar in total was added within the duration of only one week.
Grayscale now holds $7.3 billion in AUM
With the addition of a total of $300 million in just one day, the total amount of assets under management by Grayscale now has increased to $7.3 billion. This significant surge in Grayscale’s AUM was noted on October 22 when Bitcoin’s price value recorded its yearly high.
Moreover, Grayscale has recorded $1 billion in investments across all digital currency products within just one week. Last time, when the crypto fund manager issued its report on October 15, its AUM was standing at $6.3 billion while now it has reached $7.3 billion. That clearly represents an increase of $1 billion.
Grayscale’s two major trusts Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE) are holding majority of these funds. The minor trust funds of Grayscale have also reported impressive growth over the recent time. For instance, investments in Grayscale’s Litecoin Trust surged high by over 7.5 percent while an increase of 6 percent in investments has been observed in its Zcash Trust since the last report issued by the cryptocurrency asset management firm. Grayscale’s XRP, Stellar (XLM), Ethereum Classic (ETC), and Bitcoin Cash (BCH) trusts also have investment allocations in smaller amount.
Over $6 billion in assets held in Grayscale Bitcoin Trust
Reportedly, the largest trust fund of the firm Grayscale Bitcoin (BTC) Trust has currently $6 billion in assets under management. This represents 2.5 percent of the total supply of the world’s top-ranked digital currency.
Throughout this year, the institutional interest in the leading digital currency has been on a rise significantly due to the continuous incoming of institutional investors. Big players from the industry such as MicroStrategy, Square, and PayPal have also shown interest in Bitcoin over the course of the recent time.