The total value of assets managed by crypto investment firm Grayscale has reached an all-time high of $7.3 billion USD. Based on the recent update, the crypto management firm has grown its AUM by adding $1 billion USD in the span of a week.
On October 15, Grayscale posted a tweet that showed nearly $6.5 billion USD assets under management. The most recent surge has likely followed the crypto excitement generated by PayPal crypto payment offering.
Barry Silbert, CEO of Grayscale, commented on the firm’s recent increase on Twitter, stating it had “added a cool $300 million in AUM in one day.”
While disclosing an expansion of almost $1 billion USD in AUM, Grayscale October 22 update represents an over 7.5% increase in its Litecoin Trust and a more than 6% jump in Zcash Trust. Whereas, Grayscale’s trusts for Bitcoin and Ethereum hold most of the funds.
Grayscale Ethereum Trust Become SEC Reporting Entity
Grayscale filed a Form 10 with the Securities and Exchange Commission (SEC) to register its Ethereum Trust. Passing statement on regulator registration Grayscale noted:
“The filing is subject to SEC review; if the Registration Statement becomes effective, it would designate Grayscale Ethereum Trust as the second digital currency investment vehicle to attain the status of a reporting company by the SEC, following Grayscale® Bitcoin Trust as the first.”
On October 12, the crypto manager firm announced that Grayscale Ethereum Trust became an SEC reporting company. Ethereum Trust is the second crypto investment vehicle to become the Securities and Exchange Commission reporting entity. This indicates that the Trust and its shares are now registered under the Securities Exchange Act.