Institutional interest is increasing. Grayscale took another $ 1 billion worth of Bitcoin in 24 hours, increasing its total AUM to $ 46.1 billion.
Investment giant Grayscale purchased $ 1 billion worth of Bitcoin in almost 24 hours. Now, the firm has approached $ 50 billion with $ 46.1 billion in total assets under management (AUM).
The investment firm increased its total AUM by more than $ 3 billion shortly after expanding its crypto-trust offerings by adding five new tokens for eligible accredited investors.
04/09/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@Grayscale) April 9, 2021
Grayscale Bitcoin Trust (GBTC) accounts for $ 38.1 billion (82.64%) of Grayscale’s total AUM, while Ethereum Trust (ETHE) accounts for $ 6.6 billion (14.26%). The remaining trusts, including Bitcoin Cash and Litecoin, make up the rest.
Specifically, tokens such as Filecoin, Livepeer, Basic Attention token, MANA, and LINK saw an increase in price after Grayscale added them to their proposed trust list. After CEO Michael Sonnenshein announced that many customers wanted to be exposed to more crypto assets, the company increased its total number of trusts to 14.
After posting several ETF-related job positions on their career page, Grayscale confirmed their plans to turn the most popular investment product, GBTC, into a Bitcoin Exchange-traded fund. However, the firm does not consider the current regulatory climate in the United States to be suitable for such a fund.
Unlike other investment giants that have applied for an ETF using S-1 forms, Grayscale will remain committed to transforming GBTC into an ETF as the US regulatory environment becomes clearer.
Founded in 2013, Grayscale has become the most important digital asset manager for accredited investors seeking exposure to Bitcoin and other crypto assets. According to Sonnenshein, corporate BTC demand has accelerated earlier this year, adding that demand is not close to decline.