Grayscale Investments now manages over $ 9 billion in crypto.
The Bitcoin Trust is by far its most popular investment fund.
The increased interest of investors was accompanied by a strong market recovery.
Digital asset management firm Grayscale Investments has revealed that its assets under management have exceeded $ 9 billion. It also suggests that the future holds much higher growth.
Digital asset management firm Grayscale Investments provided an update on its holdings, which now exceed $ 9 billion. The company increased its already sizable holdings in 2020, buying almost 20,000 BTC in the week following the halving.
Net AUM: Grayscale Investments
Barry Silbert, founder and CEO of parent company Digital Currency Group, also noted the sharp increase in interest in crypto. Silbert tweeted shortly after the update that Grayscale added $ 500 million to assets under management in one day.
This rising investment is a sign of a migration to the crypto market on the part of historical investors and large corporations. Several companies, including Jack Dorsey’s Square company, have invested their reserves in bitcoin.
Microstrategy has invested over $ 400 million in bitcoin. Company CEO Michael Saylor has repeatedly spoken of bitcoin’s security as a hedge after he was skeptical at one time about the asset class.
Grayscale performance improves across the board
Since the start of the year, Grayscale has increased its holdings. The company’s bitcoin fund now stands at just over $ 7.6 billion, making it by far its primary investment vehicle. The trust grew by $ 1.6 billion in the first half of 2020 alone.
It is followed by the Grayscale Ethereum Trust, which manages $ 1.1 billion in assets, slightly less than the bitcoin trust. It is nevertheless one of the best performing options for Grayscale this year, with over 58 million added this year. Ethereum has grown 237% year-to-date.
With Ethereum 2.0 on the horizon, investors are hopeful that the profit potential will be greater in the future. Other trusts are far behind bitcoin and Ethereum, but have still seen tremendous growth. Next are Ethereum Classic and Bitcoin Cash Trusts, with $ 64.8 million and $ 46 million in assets under management, respectively.