Grayscale’s Cryptocurrency Assets under Management Crosses $20 Billion

Grayscale, the world’s largest cryptocurrency asset manager, now has more than $20 billion worth of digital assets under management. The company’s Bitcoin holding has a value of nearly $17.5 billion.
According to the latest provided by the company on Twitter, Grayscale’s total assets under management (AUM) reached $20.2 billion on the last day of 2020. The cryptocurrency asset manager has more than 600,000 Bitcoin as the firm accumulated 70,000 BTC within the last 30 days.
Ethereum is the second-largest holding of Grayscale in terms of value with more than 2.9 million ETH under management. The total value of Grayscale’s Ethereum holdings now stands at around $2.17 billion. The company’s Litecoin Trust is the third-largest investment product with 1.1 million Litecoin under management valued at around $145 million.
The recent price rally in Bitcoin and other cryptocurrency assets played an important role in the rising value of Grayscale’s AUM. Michael Sonnenshein, Managing Director at Grayscale expressed his views about the rising interest and potential growth of cryptocurrencies in the coming years.
“The sustained growth of Bitcoin and other digital currencies this year is a reflection of this ‘coming of age’ story for the asset class, showing the long-term staying power and growing investment interest from mainstream investors and institutions alike. Remember, these are just the early days, and we think there’s a lot more runway to go,” Sonnenshein mentioned during a discussion with Finance Magnates.
Accumulation of Cryptocurrency Assets
Grayscale accelerated the accumulation of cryptocurrency assets this year as the company took advantage of the growing interest in digital assets. The  within 24 hours earlier this month. Grayscale’s Ethereum holding increased significantly this year as the company bought more than 500K Ethereum in November and December after in Ethereum-related investment products.
Grayscale recently launched its DropGold and GoGrayscale marketing campaigns to increase awareness about digital assets.

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