Grayscale Crypto Assets Have Surged by $1 Billion

July 30, 2020 2:51 PM UTC

Grayscale, a crypto asset management firm, has attained a new ATH for its AUM. In the past couple of weeks, the Crypto fund manager has been able to grow its AUM by adding another $1 billion.

On July 28, Grayscale posted a tweet that showed the company held nearly $5.1 billion assets under management. The investment firm mostly allocates funds to Grayscale’s trusts for Bitcoin and Ethereum.

While disclosing an expansion of almost $1 billion in AUM, Grayscale’s July 17 update represented a dramatic increase in its BCH trust, from $6 million to $12.8 million. Whereas, the firm’s BTC trust holds $782 million, ETH trust carries $174 million, ETC trust and LTC trust carry $12.7 million and $6.7 million, respectively. 

Only Stellar Lumens Trust’s assets under management dropped: $500,000 from $600,000.

Grayscale Halts Bitcoin Acquisition

Grayscale has expanded its profile by aggressively acquiring Bitcoin since the third BTC halving. The firm had acquired over 33% of all newly mined bitcoin in 2020. However, according to the recent report, the pattern of acquiring BTC has grounded for more than 3 weeks. 

GBTC usually files a Form 8-K with the SEC, declaring its acquisitions. Last time the firm filed the report on June 25. 

The Grayscale spokesperson said:

“There was an administrative quiet period for the Grayscale Bitcoin Trust private placement. The Trust is now open for subscription as of Friday, July 10 at 4:00pm ET.”

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