Grayscale is one of the most prominent investment firms across the US. It has built up a portfolio of assets under management pertaining to Bitcoin and other currencies. Several milestones have been reached in the past few hours.
Multiple Grayscale AUM Milestones
Throughout most of 2020, Grayscale has been adding to its Bitcoin portfolio. Ever since the block reward halving kicked in, the company was buying more BTC than the miners can produce every single day. Those investments are now paying off, thanks to bitcoin’s recent price increase. A rising value per BTC will not only increase the AUM value, but also affect the holdings per share and market price per share.
Today, Grayscale has $7.242 billion in Bitcoin assets under management. Just 24 hours ago, this number sat at $6.712 billion. A very strong increase overall, confirming the dominant market position Bitcoin has today. Although the BTC price has increased a bit in the past 24 hours, it seems obvious Grayscale has continued to buy more BTC in the same period as well.
Looking beyond Bitcoin, there are some notable changes for its Ethereum AUM balance sheet. Yesterday, Grayscale confirmed it has $957.3 million in Ether on its sheet. A more than respectable amount, all things considered. Ethereum remains the second-biggest market cap in the cryptocurrency space. It is only normal to see it being well-represented on Grayscale’s list as well.
Today, however, things are a bit different. For the first time in history, the company has over $1 billion in ETH AUM. More specifically, the current tally sits at $1.034 billion. Strong overall growth for the company, and a further validation of how the company is looking at the broader industry. None of the other assets managed by the firm come even close to these levels.
Surpassing $8.5bn in Assets Under Management
The third major milestone for Grayscale is its overall growth. Looking back in time, the firm started out with just over $42.1 million in AUM by the end of 2014. That number has kept growing slowly in the following years. The first major “explosive growth” was noted by late 2017. At that time, the firm pushed its balance sheet all the way to $2,698,489,735. One has to keep in mind bitcoin hit its all-time high that year as well.
Following two years with a lower AUM, 2020 is about as bullish as it can get. Compared to December 31,2019, Grayscale has already increased its balance sheet by over 420%. Going from just over $2 billion to $8.56 billion in less than a year is incredibly spectacular.
It also confirms the company’s outlook on the broader cryptocurrency industry. The final months of 2020 will prove rather interesting for all of its assets under management.
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