TL;DR Breakdown:
- Grayscale net asset under management has reached another milestone record of $13 billion.
- The growth of the crypto-assets signals a growing interest in cryptos from institutions.
There has been awake of institutional interest in Bitcoin (BTC) and the cryptocurrency market in recent months. This is quite evident following the increased valuation of the assets under management (AUM) in Grayscale Investment, institutional-grade crypto investing, and management company. Currently, the valuation of the crypto-assets with the company has reached a milestone record of $13 billion, as tweeted earlier today.
$13 billion AUM led by Bitcoin
The $13.0 billion AUM with Grayscale comes from its ten digital currency products, all of which have seen tremendous growth since this year. The Bitcoin Trust continues to dominate the assets valuation, now topping at $10,821.8 million, which represent about 83 percent of the net assets under management. The second-largest product on Grayscale, Ethereum Trust, 1,722.5 million (about 13 percent).
The investment company has been growing exponentially in assets for the past four months. As of August 18, the company posted a net AUM of $6.1 billion for the ten cryptocurrency products. Fast forward to today, Grayscale is up by more than 113 percent following the reported stats. This somewhat suggests a growing interest in cryptocurrencies by institutional investors. Especially for the company’s Bitcoin Trust, the monthly inflows have been on the rise since November.
Not just Grayscale
3iQ, the leading Canadian digital assets investment company, also sees a great demand for its Bitcoin Fund. the company has been buying a substantial amount of Bitcoin since this month, raising its Bitcoin holding to 16,454 BTC on December 1. The 3iQ Bitcoin holdings are current up by more than 117 percent in the last three months, worth over $317 million.
