Grayscale has $ 43 billion in crypto assets under management and its Ethereum Trust AUM is also down 30% and 22%, respectively.
Grayscale has $ 43 billion in crypto assets under management, down 28% from $ 61 billion in November. Assets under management in the Grayscale Bitcoin Trust are the company’s largest stake, but it fell from $ 43.5 billion to $ 30.4 billion, down 30% this time around. The Ethereum Trust’s assets under management fell from $ 15 billion to $ 11.6 billion, a decrease of 22%. Those declines came as BTC and other crypto prices fell in recent weeks, but total AUM represents a 170% increase from its $ 16.4 billion in inventory a year ago, which is growing interest on cryptocurrency shows.
UPDATE 12/31/21: Net assets under management, stocks per unit and market price per unit for our investment products.
Total AUM: $ 43.6 billion $ BTC $ BAT $ BCH $ LINK $ MANA $ ETH $ ETC $ FIL $ ZEN $ LTC $ LPT $ XLM $ ZEC $ UNI $ AAVE $ COMP $ CRV $ MKR $ SUSHI $ SNX $ YFI $ UMA $ BNT $ ADA $ SOL pic.twitter.com/vCkExTIjHh
– Grayscale (@grayscale) December 31, 2021
Grayscale’s portfolio is larger than last year and includes multiple trust offerings including Chainlinks LINK tokens, MANA, Brave’s BAT and more.
As recently reported, The Grayscale Bitcoin Trust hit its biggest discount ever, closing a few weeks ago with a record discount of 21.36% according to data from Glassnode. This means that new investors will be able to buy GBTC shares at prices dramatically below the true market value of BTC, while existing holders will suffer losses due to the six-month lock-up period on the initial investment. According to the company, GBTC stock fell 3.46%, trading at $ 43.77 per share.
The Grayscale Bitcoin Trust, launched in 2013, is Grayscale Investments’ most popular product and allows investors to trade shares in trusts that hold larger BTC pools. GBTC has over $ 30 billion in assets under management. GBTC shares traded at a huge premium to BTC’s market price, but the share price went negative in late February following the introduction of other BTC exchange traded funds in Canada. Grayscale believes that the best way to reverse the current discount is to convert GBTC into a full-fledged Bitcoin ETF, and argues that a spot BTC ETF is in the best interests of investors.
The Grayscale Ethereum Trust is the second largest crypto trust after Bitcoin. Image grayscale
The company also filed a formal application with the U.S. SEC in October to convert GBTC into an exchange-traded fund backed by physical bitcoin. Last week the SEC rejected all attempts to bring such a product to the US market and delayed a decision on both the Bitwise BTC ETF and the GBTC. According to the Commission, it will take another 45 days to consider the proposals. Previously, the SEC had denied other Bitcoin ETF applications filed by New York ETF issuer WisdomTree.
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