Cryptocurrency

The dollar value of cryptoassets managed by Grayscale reaches $ 6.5 billion

The total dollar value of cryptoassets managed by Grayscale trusts reached $ 6.5 billion for the first time, of which $ 5.4 billion is concentrated in the Grayscale Bitcoin Trust (GBTC).

According to the company, the total value of assets in cryptocurrency funds Grayscale reached $ 6.5 billion for the first time.The size of the company’s largest trust – Grayscale Bitcoin Trust (GBTC) – exceeds $ 5.4 billion.

In mid-October, Grayscale reported its results for the third quarter of 2020 – investments in Grayscale trusts totaled a record $ 1.05 billion.According to Bitcoin Treasuries , public companies, including Grayscale, currently hold a total of 785,999 BTC worth $ 9.18 billion.

At the same time, the number of institutional investors in bitcoin is increasing – asset management firm Stone Ridge Holdings Group bought 10,000 BTC worth $ 110 million in mid-October. Notably, Grayscale trusts have continued to grow over the past month, despite some market slowdown. This suggests that the growth was due to the inflow of new assets, and not due to higher prices.

Grayscale also registered the Ethereum Trust (ETHE) with the US Securities and Exchange Commission (SEC) this month . Now the company will report quarterly on the status of the trust.

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