Grayscale Increases Assets Under Management $ 1 Billion Daily ── Funding Ethereum Trust
Grayscale Investments, which operates investment trusts for crypto assets (virtual currency), announced that the balance of assets managed by the company has increased by about 1 billion dollars (about 1080 billion yen) in one day.
Grayscale posted on Twitter on the 21st that the balance of assets under management has increased from $ 44.9 billion the day before to $ 45.8 billion. The company’s “Grayscale Bitcoin Trust (GBTC)” increased by $ 283.3 million and the “Grayscale Ethereum Trust (ETHE)” increased by $ 586.5 million.
GBTC’s investment trusts are currently trading at a price 13.88% below the spot price of Bitcoin held by the trust, according to Grayscale data.
Grayscale also bought altcoin “horizon (ZEN)” by 16.89% and “livepeer (LPT)” by 13.25%. As institutional investors increase their investment in grayscale mutual funds, grayscale needs to buy more crypto assets.