Tuesday, November 30, 2021

Grayscale’s Ethereum holdings now stand at $6.7 billion.

The Takeaway:

Crypto asset manager Grayscale announced today that the company has nearly $6.7 billion worth of Ethereum under management.

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Grayscale, the world’s largest crypto asset manager, announced today that the company has nearly $6.7 billion worth of Ethereum under management. The US-based crypto services provider has a total of 3.1 million ETH under management. According to an official post by Grayscale, the total value of the company’s crypto assets under management has reached $46.4 billion. However, bitcoin remained the largest holding of Grayscale as the asset manager currently has more than 650,000 Bitcoin with a value of approximately $38.2 billion. 

 

Grayscale accelerated its accumulation of Ethereum. 

Grayscale accelerated its accumulation of Ethereum during the first two months of this year. In December 2020, Michael Sonnenshein, CEO of Grayscale, highlighted a growing institutional interest in Ethereum-related investment products. The company also recently released a report on Ethereum to highlight ETH’s upcoming network upgrades potential benefits. The crypto asset manager has a wide range of investment trusts, including Litecoin investment trust, Bitcoin Cash investment trust, Ethereum Classic investment trust, and Stellar Lumens trust. The crypto asset manager announced that it had rebalanced its large-cap digital fund with the addition of Chainlink.

 

Bitcoin and Ethereum account for more than 90% of Grayscale’s total assets. 

Bitcoin and Ethereum account for more than 90% of Grayscale’s total cryptocurrency assets under management, but the company has recently introduced five new digital currency investment trusts to expand its offerings. Grayscale introduced Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT) investment trusts in March 2021. The total value of Grayscale’s Ethereum holdings received a push from the recent surge in ETH price. Ethereum registered an all-time high of $2,152 on 3 April. As of writing, the digital currency is trading near $2,080.  

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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