Nearly $700 million of the $873 million trust assets allowed to be sold by FTX comes from Grayscale’s flagship product, the Grayscale Bitcoin Trust, or GBTC.
Grayscale Ethereum Trust Discount Drops to Lowest in a Year Amid Spot Ether ETF Push
The recent optimism around crypto spot exchange-traded funds helped narrow the ETHE discount.
Alameda Sues Grayscale and DCG to Allow Redemptions, Reduce Fees
The bankrupt trading firm is seeking injunctive relief to allow FTX debtors to realize what it claims is more than $250 million in asset value.
Grayscale Tops Up Ethereum Investment To $10 Billion
Ethereum makes up a large part of crypto-asset manager Grayscale’s portfolio. In a recent report, it shows that Grayscale now has over 3 million ETH in its asset under management (AUM), amounting to more than $10 billion. This makes the asset manager one of the largest holders of Ethereum in the space.
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The asset manager had gradually increased its ETH holdings over time, adding almost 20,000 ETH to its portfolio back in February. The recent filings show that the New York-based asset manager has increased its crypto holdings since its last report, which has raised the value of the total assets under management from $33 billion to $41.4 billion.
Ethereum Is Not The Only Interest
The fund had started out providing a way for investors to invest in Bitcoin through the stock market. But over the years, Grayscale has added more crypto-assets to its offering to provide investors more exposure to the markets. Grayscale’s crypto management spans across a host of cryptocurrencies. Assets in its care range from Bitcoin to Ethereum, Litecoin, Ethereum Classic, and a host of others.
Grayscale’s Ethereum Trust at almost $10 billion | Source: Grayscale on Twitter
In addition to its $10 billion ETH and $29 billion BTC holdings, Grayscale also holds over $700 million worth of Ethereum Classic and over $300 million worth of Litecoin in its portfolio. The size of its assets under management puts Grayscale as the largest crypto asset manager in the world.
Grayscale had also dived into the DeFi world back in July when it launched a new DeFi fund. The fund was the first of its kind in the firm’s history but would be the second diversified product fund. This fund was based on the Coindex DeFi Index.
Highest Asset Under Management
Although Ethereum makes up a big chunk of the asset manager’s portfolio, bitcoin remains top of the list. Grayscale’s Bitcoin holdings total over 640,000 coins, which puts the total value at almost $30 billion. Constituting the largest part of assets under management in the portfolio. The asset manager’s Ethereum holdings put ETH as the second-highest holding in its portfolio, following behind bitcoin.
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The trust has also benefitted from the current bull rally that has rocked the market. The price of Ethereum has grown tremendously in just the past three weeks along. Seeing the price of the digital asset come to rest firmly above $3,000, a price point it had not been able to break following the crash from the all-time high of the asset.
The price of Ethereum at the time of this writing is trading above $3,200, with a 0.71% 24-hour price change.
ETH price sitting above $3,200 | Source: ETHUSD on TradingView.com
6 Insurers Initiate New Cryptocurrency Investment Positions: Report
Insurance firms have increased their interest in crypto investments in recent months.
Ark Investment tips $20M into Grayscale Ethereum Trust
Ark’s Q1 SEC report revealed holdings of 639,069 shares in Grayscale’s Ethereum Trust, worth more than $20 million.
Rothschild Investment Corp snaps up quarter of a million shares in Grayscale ETH Trust
Rothschild Investment Corp, has acquired more than 250,000 shares in Grayscale’s ETH trust, and added 8000 shares to its BTC trust holdings — however the firm holds zero ties to the famed Rothschild family dynasty.
Ether Soars to Another All-Time High, Carrying DeFi and Rival Coins With It
Investor excitement ahead of the CME’s planned ether futures contract is one reason for the price push.
Grayscale Has $16.4B in Crypto Assets Under Management, Up From $13B a Week Ago
The firm’s bitcoin AUM rose by more than $3 billion in a week.
Grayscale Now Has $13B in Crypto Assets Under Management
Grayscale’s bitcoin and ether trusts now make up almost the entire $13 billion in AUM value.
Grayscale Ethereum Trust Announces 9-for-1 Stock Split
Existing shareholders will receive eight additional ETHE shares for each one held, with each new share being a ninth the value and price of the current ones.