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November 18, 2020 @ 12:17 +03:00
In another sign of renewed exuberance in cryptocurrency markets, Grayscale Investments has broken above $10 billion in digital assets under management for the first time.
Disclosed Tuesday evening, the New York-based firm now oversees $10.4 billion in assets including bitcoin, bitcoin cash, ether, horizen, ether classic, litecoin, stellar, XRP and zcash.
That’s up from $7.6 billion on Oct. 30, according to the firm’s November report.
Price appreciation in all cryptocurrencies this month is a factor behind the growth, but so are inflows: Grayscale took in $262.3 million last week alone, Managing Director Michael Sonnenshein tweeted Friday.
The assets are held across nine single-asset investment trusts and a diversified fund. Shares in these vehicles are offered directly only to accredited investors, but most of them can be publicly traded on the over-the-counter markets.
Grayscale is owned by Digital Currency Group, which is also the parent company of CoinDesk.
Grayscale’s Crypto Assets Under Management Break $10B, CoinDesk, Nov 18