The total value of assets managed by crypto-focused investment company Grayscale has reached $6.5 billion for the first time, the firm tweeted on Monday.
The biggest of the company’s trusts by far—Grayscale Bitcoin Trust (GBTC)—currently exceeds $5.4 billion.
10/19/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
As Decrypt reported recently, Q3 2020 became the best quarter in Grayscale’s history as the company attracted more than $1 billion worth of assets. In addition, year-to-date investment into the Grayscale family of products has surpassed $2.4 billion.
According to Bitcoin Treasuries, publicly traded companies, including Grayscale, now hold a total of 785,999 BTC—worth around $9.18 billion currently. Recently, Stone Ridge also added to this pot, revealing that it holds $115 million in Bitcoin. Simultaneously, its crypto-focused arm, New York Digital Investment Group, custodies over $1 billion in crypto.
Notably, Grayscale trusts continued to grow over the past month despite the market somewhat slowing down, suggesting that the increase primarily occurred due to an inflow of new assets and not because of a price rally.
On October 12, Grayscale's Ethereum Trust became the second SEC reporting crypto trust fund—right after its own GBTC became the first.