May 13, 2020 02:30 UTC
May 13, 2020 at 02:30 UTC
World’s Largest BTC and Crypto Investment Trust Reaches $3,700,000,000 In AUM
The world’s biggest Bitcoin (BTC) and crypto investment trust reports that its assets under management (AUM) expanded by $500 million since the arrival of its Q1 report in March.
Grayscale says it currently oversees $3.7 billion worth of cryptocurrency assets in the interest of its clients, denoting another high for the digital asset management firm.
05/08/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@GrayscaleInvest) May 8, 2020
A year ago, Grayscale launched a multi-million dollar ad campaign broadcasting Bitcoin is the new digital option in contrast to gold.
Another report from the organization points to developing shortfalls in the US as a potential shelter for Bitcoin (BTC) and digital currency.
“Denominated by demand, not debt, Bitcoin is a currency immune to supply manipulation. Its supply is capped at 21 million and the rate of issuance is predetermined. These features are viewable in the source code and can be verified by the Bitcoin blockchain.”
“Today’s macroeconomic environment continues to reinforce that a scarce, digital, non-sovereign form of money may be an attractive place to store value and may serve as a hedge against unrestrained money printing.”
The firm at first entered the cryptocurrency space with the Grayscale Bitcoin Trust back in 2013, preceding turning out investment items for Ethereum, Ripple, Litecoin, Bitcoin Cash, and different digital forms of money.
The Grayscale Bitcoin Trust contains 89% of the association’s assets, trailed by the Grayscale Ethereum Trust at 7.5%.