Grayscale Holds $43B In Crypto AUM, Down From Previous $60.9B

Grayscale holds $43B in crypto assets under management and its Ethereum trust AUM also dropped 30% and 22% respectively so let’s read more about it today in our Bitcoin latest news.

Grayscale holds $43B in crypto assets under management which records a 28% decline from the $61 billion that it held back in November. Assets under management in the grayscale Bitcoin Trust is the company’s largest holding but it decreased from $43.5 billion to $30.4 billion which marks a 30% drop this time. The AUM of the Ethereum trust declined from $15 billion to $11.6 billion which marks a 22% drop. These decreases came as BTC and other crypto prices dropped in the past few weeks but the total AUM represents a 170% increase over its $16.4 billion in holdings a year ago which shows a growing interest in cryptocurrency.

12/31/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

Total AUM: $43.6 billion$BTC $BAT $BCH $LINK $MANA $ETH $ETC $FIL $ZEN $LTC $LPT $XLM $ZEC $UNI $AAVE $COMP $CRV $MKR $SUSHI $SNX $YFI $UMA $BNT $ADA $SOL pic.twitter.com/vCkExTIjHh

— Grayscale (@Grayscale) December 31, 2021

Grayscale’s portfolio compared to a year ago is wider-ranging with an addition of multiple trust offerings including Chainlink’s LINK token, MANA, Brave’s BAT, and more.

As recently reported, The Grayscale Bitcoin trust reached the biggest discount ever and closed a few weeks ago with a record discount of 21.36% according to the data from Glassnode. This means that the new investors can buy GBTC shares at prices dramatically lower than the actual market value of BTC while the existing holders will face losses because of the six-month lock-up period of the initial investment. According to the company, the GBTC shares price dropped by 3.46% and recorded a $43.77 price tag per share.

Launched in 2013, the Grayscale Bitcoin trust is the most popular product of Grayscale Investments and allows investors to trade shares in trusts that hold larger pools of BTC. GBTC holds over $30 billion in assets under management. GBTC shares traded at a huge premium relative to the market price of BTC but the price of the stock turned negative at the end of February following the launch of other BTC-exchange traded funds in Canada. Grayscale believes that the best way to reverse the current discount is to convert GBTC into the full-fledged Bitcoin ETF, arguing that a spot BTC ETF will be in the best interest of the investors.

The company also filed a formal application with the US SEC to convert GBTC into an exchange-traded fund that is backed by physical Bitcoin in October. Last week, the SEC rejected all attempts of launching a product of this kind into the US market and delayed a decision on both Bitwise BTC ETF and GBTC. According to the commission, it needs another 45 days to review the proposals. Before that, the SEC rejected other applications for a Bitcoin ETF that were filed by the New York-based ETF issuer WisdomTree.
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