Grayscale, a major digital asset management fund, has continued to grow this year, with its total assets under management, or AUM, reaching new peaks.
According to a May 19 tweet, Grayscale’s total AUM reached $3.8 billion, up more than 80% from $2.1 billion in May 2019.
Grayscale’s Bitcoin Trust (BTC) has continued to lead other crypto currencies in the fund, representing $3.36 billion, or 89% of the company’s total AUM. The value of Grayscale’s Bitcoin investment trust increased 76% from last year’s $1.9 billion. At the same time, Grayscale’s Bitcoin trust share experienced a small drop, falling from 94% in May 2019.
Grayscale: BTC holdings constitute almost 94% of total assets under management
The massive peak in value of Grayscale’s Bitcoin trust occurs amidst a significant increase in the price of BTC year over year. At the time of publication, Bitcoin is trading at USD 9,745, up about 30% from USD 7,600 a year ago.
According to the data, the Grayscale Bitcoin Gemini Review, Cryptosoft Review, Bitcoin Evolution Review, Bitcoin Formula Review, Crypto Investor Review Trust is now the second largest trust among the fund’s 10 total trusts. ETH’s trust accounts at Grayscale represent USD 289 million and are followed by the Grayscale Ethereum Classic (ETC) Trust, which holds USD 73 million.
Grayscale’s Bitcoin Trust is one step closer to public trading
Created by Digital Currency Group in 2013, Grayscale is a leading global cryptomoney investment fund. The fund is regulated by global authorities such as the U.S. Financial Industry Regulatory Authority and the Securities and Exchange Commission. Grayscale reportedly became the first digital asset trust to begin reporting to the SEC in January 2020.
In April 2020, Grayscale reported that the company had approximately 1.7 percent of all Bitcoin supply in its Grayscale Bitcoin Trust. At that time, the company also said it saw its largest quarter despite the economic crisis fueled by the COVID-19 pandemic.