Cryptocurrency AUM of Grayscale Dips below $30 Billion

Grayscale, the US-based crypto asset management firm, recently released an update regarding its cryptocurrency assets under management (AUM). The company’s total digital AUM dropped below $30 billion last week.

The latest numbers published on 10 July 2021 indicate that the company now has $29.6 billion worth of cryptocurrency assets under management. During the first week of May 2021, Grayscale’s total crypto AUM jumped above $52 billion amid a spike in Bitcoin and Ethereum.

Bitcoin is the largest holding of Grayscale as the New York-based cryptocurrency asset manager now has more than 650,000 BTC with a total worth of over $21.5 billion.

Ethereum is the second-largest holding of Grayscale as the cryptocurrency firm has approximately 3.1 million ETH. The overall value of Grayscale’s Ethereum Trust stands at around $6.68 billion. Grayscale’s ETH holdings touched an all-time high value of $13 billion in May 2021 after ETH crossed $4,000.

Earlier this month, Grayscale announced the addition of Cardano, a proof-of-stake blockchain platform, to its Digital Large Cap Fund. The asset management firm expanded its cryptocurrency portfolio with the addition of Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT) investment trusts in March 2021.

Cryptocurrency Investment Trusts

Apart from Bitcoin and Ethereum, Grayscale has a broad range of cryptocurrency investment trusts including Ethereum Classic (ETC) Trust, Litecoin Trust (LTC) and Bitcoin Cash (BCH) Trust. Ethereum Classic is one of the most valuable holdings of Grayscale as the asset manager now has more than $600 million worth of ETC under management. Grayscale’s ETC holdings gained significant value this year as the cryptocurrency has spiked from $5 in January to as high as $150 in May. However, ETC dropped gradually in the following weeks and reached a low of $32 on 22 June 2021.

Furthermore, the cryptocurrency asset manager has $200 million worth of Litecoin under management. Grayscale’s Bitcoin Cash Trust now has a total value of $145 million. BCH is currently trading near $500 with a market cap of over $9 billion.

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