Grayscale Increase Their Ethereum Investment Position To $10 Billion
Ethereum represent a big portion of crypto-asset manager Grayscale’s portfolio. According to the recent report, Grayscale now has over 3 million ETH in its asset under management (AUM), worth over $10 billion. This makes the asset manager one of the largest holders of Ethereum.
The asset manager has been increasing its ETH holdings gradually over time, adding almost 20,000 ETH to its portfolio back in February. The recent filings show that the asset manager has increased its crypto holdings since its last report, which has raised the value of the total assets under management from $33 billion to $41.4 billion.
Grayscale Is Also Big On Other Assets
The fund got started by providing a way for investors to invest in Bitcoin through the stock market. Over time, Grayscale has added more crypto-assets to its offering to provide investors more exposure to the crypto market. Grayscale’s crypto management spans across a host of cryptocurrencies from Bitcoin to Ethereum, Litecoin, Ethereum Classic, and a host of others.
In addition to its $10 billion ETH and $29 billion BTC holdings, Grayscale also holds over $700 million worth of Ethereum Classic and over $300 million worth of Litecoin in its portfolio. The size of its assets under management puts Grayscale as the largest crypto asset manager in the world.
Grayscale had also dived into the DeFi world back in July when it launched a new DeFi fund. The fund was the first of its kind in the firm’s history but would be the second diversified product fund. This fund was based on the Coindesk DeFi Index (DEX).
Bitcoin Still The Largest Asset Under Management
Although Ethereum makes up a big chunk of the asset manager’s portfolio, bitcoin remains top of the list. Grayscale’s Bitcoin holdings total over 640,000 coins, which puts the total value at almost $30 billion. Constituting the largest part of assets under management in the portfolio. The asset manager’s Ethereum holdings put ETH as the second-highest holding in its portfolio, following behind bitcoin.
The trust has also benefitted from the current bull rally that has rocked the market. The price of Ethereum has grown tremendously in just the past three weeks along. Seeing the price of the digital asset come to rest firmly above $3,000, a price point it had not been able to break following the crash from the all-time high of the asset.
The price of Ethereum at the time of this writing is trading above $3,300, with 0.19% profits on daily chart.
