Grayscale’s Cryptocurrency AUM Surpasses $43 Billion Level
Grayscale, the Stamford-based cryptocurrency asset management firm, recently released an update about the total value of its digital assets under management (AUM). The company saw a jump of approximately $1.5 billion in the overall value of its crypto AUM in the last 24 hours after Bitcoin and Ethereum saw strong bullish momentum.
According to Grayscale, the company’s Bitcoin Trust now has nearly $31 billion worth of assets under management. On the other hand, the total value of Grayscale’s Ethereum Trust touched nearly $11 billion on 15 September. The cryptocurrency asset management firm holds more than 640,000 BTC and approximately 3.1 million ETH.
Earlier this week, Grayscale announced a partnership with iCapital Network, one of the leading global financial technology platforms, to offer iCapital Network’s more than 6,700 network advisors serving high-net-worth clients with access to cryptocurrency assets through a Grayscale diversified market-cap-weighted investment strategy.
Grayscale saw a sharp increase in the value of its digital assets under management during the last 8 months. Bitcoin and Ethereum were the major contributors as the world’s top 2 cryptocurrencies account for more than 90% of the total value of Grayscale’s digital assets under management.
The US-based cryptocurrency asset manager formed several partnerships in 2021 with some of the leading companies around the world amid a jump in the adoption of digital currencies. In April 2021, Grayscale announced a collaboration with TIME Magazine to launch a new video series covering Bitcoin and other cryptocurrency assets.
In its latest partnership with iCapital Network, Grayscale highlighted the growing adoption of cryptocurrencies. “The digital currency landscape is complex and ever-evolving, which can make it difficult for advisors and their clients to determine the most appropriate methods to access the asset class. We are thrilled to collaborate with iCapital to provide access to an institutional-quality, digital currency investment strategy that is differentiated by its transparency as an SEC reporting company,” Hugh Ross, Chief Operating Officer of Grayscale, commented on the latest collaboration.
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