Grayscale Tops Up Ethereum Investment To $10 Billion
August 23 2021 - 7:00PM
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Ethereum makes up a large part of crypto-asset manager Grayscale’s
portfolio. In a recent report, it shows that Grayscale now has over
3 million ETH in its asset under management (AUM), amounting to
more than $10 billion. This makes the asset manager one of the
largest holders of Ethereum in the space. Related Reading
| Crypto Market Goes Into “Extreme Greed,” What This Means For
Bitcoin The asset manager had gradually increased its ETH holdings
over time, adding almost 20,000 ETH to its portfolio back in
February. The recent filings show that the New York-based asset
manager has increased its crypto holdings since its last report,
which has raised the value of the total assets under management
from $33 billion to $41.4 billion. Ethereum Is Not The Only
Interest The fund had started out providing a way for investors to
invest in Bitcoin through the stock market. But over the years,
Grayscale has added more crypto-assets to its offering to provide
investors more exposure to the markets. Grayscale’s crypto
management spans across a host of cryptocurrencies. Assets in its
care range from Bitcoin to Ethereum, Litecoin, Ethereum Classic,
and a host of others. Grayscale's Ethereum Trust at almost $10
billion | Source: Grayscale on Twitter In addition to its $10
billion ETH and $29 billion BTC holdings, Grayscale also holds over
$700 million worth of Ethereum Classic and over $300 million worth
of Litecoin in its portfolio. The size of its assets under
management puts Grayscale as the largest crypto asset manager in
the world. Grayscale had also dived into the DeFi world back in
July when it launched a new DeFi fund. The fund was the first of
its kind in the firm’s history but would be the second diversified
product fund. This fund was based on the Coindex DeFi Index.
Highest Asset Under Management Although Ethereum makes up a big
chunk of the asset manager’s portfolio, bitcoin remains top of the
list. Grayscale’s Bitcoin holdings total over 640,000 coins, which
puts the total value at almost $30 billion. Constituting the
largest part of assets under management in the portfolio. The asset
manager’s Ethereum holdings put ETH as the second-highest holding
in its portfolio, following behind bitcoin. Related Reading
| Here’s What Bitcoin Exchange Inventory Levels Means For The
Bull Rally The trust has also benefitted from the current bull
rally that has rocked the market. The price of Ethereum has grown
tremendously in just the past three weeks along. Seeing the price
of the digital asset come to rest firmly above $3,000, a price
point it had not been able to break following the crash from the
all-time high of the asset. The price of Ethereum at the time of
this writing is trading above $3,200, with a 0.71% 24-hour price
change. ETH price sitting above $3,200 | Source: ETHUSD on
TradingView.com
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