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2021.04.23

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.

https://www.coindesk.com/grayscale-added-nearly-1b-in-crypto-in-24-hours

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