The management company holds over $ 44 billion in total cryptocurrency
Assets under the management of the Grayscale Ethereum Trust have exceeded $ 10 billion, which corresponds to the value of more than 3 million altcoins at the market rate. The Grayscale management company is one of the largest holders of Vitalik Buterin’s altcoin. It is gradually increasing Ethereum reserves: in February, for example, it increased its portfolio by 20 thousand ETH.
Since the publication of the last report, the value of all cryptocurrency assets managed by Grayscale has grown from $ 41.4 billion to $ 44.8 billion. Initially, the company provided investors with the opportunity to invest in bitcoins. Now, in addition to the largest cryptocurrencies in terms of capitalization, Grayscale clients can invest in altcoins, including those from the field of decentralized finance.
Grayscale’s portfolio also includes Ethereum Classic worth over $ 800 million and Litecoin worth about $ 300 million, as well as over 640,000 BTC worth $ 32 billion. Grayscale is the world’s largest cryptocurrency asset manager.
In early August, the company hired former head of index provider Alerian David LaValle as head of ETF funds. LaValle will be working to convert the Grayscale Bitcoin Trust and the company’s other funds into ETFs. Grayscale also plans to hire about ten more specialists to work on the ETF.
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