Grayscale, the world’s largest crypto asset management company, published its latest figures and stated that its total crypto assets managed reached $ 19 billion. Bitcoin remained the biggest savings of the company, as Grayscale has 600,000 BTC worth over $ 16 billion.
Grayscale stated that its investment portfolio includes Bitcoin, Ethereum, Litecoin, Stellar, XRP, Zcash, Ethereum Classic and Bitcoin Cash, according to an official announcement on Twitter. The asset management company has accumulated more than 73,000 Bitcoins in the past 30 days.
The recent price rally in Bitcoin and Ethereum caused a significant increase in the value of Grayscale’s crypto assets under management. At the time of writing, the Bitcoin price is traded around $ 27,000, while Ethereum’s price is currently hovering around $ 735. Ethereum reached its highest level since 2018, hitting $ 738.
Grayscale has significantly increased its Bitcoin amount over the past few weeks, although the company temporarily stopped accepting new investors in its six funds earlier this month. The asset manager also reported that US-based investors showed strong interest in other crypto assets.
The total market cap of cryptocurrencies is currently around $ 720 billion. The crypto market has added nearly $ 100 billion in value following the recent crash following news of the SEC’s lawsuit against Ripple. Following the SEC news, the price of XRP fell. XRP has dropped by more than 60% in the past few days after leading crypto exchanges began to remove cryptocurrency for US customers. The XPR price is currently trading around $ 0.20, a significant drop from $ 0.56 at the beginning of last week before the SEC’s decision.
Grayscale’s latest accumulation and strong results, despite the recent turbulent news in the crypto market, more and more people are beginning to view cryptocurrencies as an inflationary protection against other assets. This indicates a growing demand from institutional investors, including Wall Street companies.