Grayscale, a trust fund, has attained a new all-time height to its AUM. The firm now holds a total of $3.8 billion worth of cryptos under management in BTC, ETH, and numerous other cryptocurrencies.
It seems that Grayscale has actually bought around 33% of all Bitcoin mined between February 7 and May 17. The Bitcoin fund is now worth more than $3 billion at current market prices. Grayscale has been ‘aggressively’ buying Bitcoin and Ethereum in 2020 despite the recent crash on March 12.
Grayscale Clearly Looking To Diversify Its Portfolio
While the Grayscale Bitcoin Trust continues to obtain an enormous amount of Bitcoin, the report revealed that Grayscale’s Bitcoin trust has amassed other cryptocurrencies while maintaining more than $3.36 billion worth of BTC.
Moreover, Ethereum Trust Fund also has seen significant growth, as the firm finally decided to diversify its portfolio by adding several major cryptos. A major portion of the firm’s prevailing funds rests in the Grayscale Ethereum Trust, with around $289 million worth of ETH. Compared to the past few years the figures are quite impressive, Grayscale Ethereum Trust highlighted this surge, as Ethereum’s institutional demand continues to rise.