Home News Grayscale funds reach $ 6.5 billion invested in cryptocurrencies

Grayscale funds reach $ 6.5 billion invested in cryptocurrencies

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The total value of assets managed by investment firm Grayscale reached US $ 6.5 billion for the first time. The company announcement on Tuesday (20th), on twitter.

The company's largest fund by far – Grayscale Bitcoin Trust (GBTC) – currently exceeds $ 5.4 billion.

The third quarter of 2020 became the best quarter in Grayscale's history, as the company attracted more than $ 1 billion in investments. In addition, the product accumulated in the year exceeded US $ 2.4 billion.

Grayscale fund ratio (Source: Grayscale)

According to Bitcoin Treasuries, publicly traded companies, including Grayscale, now hold a total of 785,999 BTC – worth about $ 9.18 billion today.

Recently, Stone Ridge also entered this account, revealing to hold $ 115 million in Bitcoin. At the same time, its crypto-focused arm, the New York Digital Investment Group, holds more than $ 1 billion in cryptocurrencies.

Grayscale's funds continued to grow last month, despite the market slowdown, suggesting that the increase was mainly due to an entry of new assets and not because of a price hike.

On October 12, Grayscale's Ethereum Trust became the second SEC registered cryptocurrency fund – shortly after its own GBTC became the first.

* Translated and edited with authorization from Decrypt.co

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