Grayscale’s Crypto Assets Under Management Reaches $19 Billion


The latest crypto rally has turned out to be a boon for investors and a number of them have cashed in while Bitcoin is holding steady beyond the $20,000 price point. While many have expanded their businesses, it would be difficult to find a player that has grown as much in this space as Grayscale Investments. The chief executive at Grayscale, Barry Silbert announced on Twitter that the total crypto assets under management at the company had now increased to $19 billion. The tweet highlighted the incredible progression of the company over the past month, with Grayscale’s asset under management increasing from $13 billion that were held on December 15th, 2020, to a whopping $19 billion.

All claims made by Silbert are backed up by the data provided by Bybt, which shows Grayscale’s current AUM to be around $18.7 billion. A major part of this growth is a result of the gains in the overall market. On December 15th, Bitcoin’s price tag had been around $19,452, and investors had still been looking forward to see if the asset would manage to break past its previous all-time high. However, it did manage to do so and just recently hit a new all-time high of $28,600. 

In the last couple of weeks, Grayscale has also gone on a rather hefty Bitcoin purchasing spree. Business and tech industry insider, Kevin Rooke, revealed last week that the New York-based company had increased its Bitcoin Investment Trust by 12,000 BTC. According to Rooke’s report, the single-day haul by Grayscale was around 11,512 BTC more than what the company had acquired in the last week after the Bitcoin rally, which pushed the asset to break its all-time high threshold. Back then, Grayscale’s Bitcoin trust had grown by 66% with the purchase. The position Grayscale enjoys as an essential entity in the crypto space is now well-known. 

The asset management company has acquired a major stake in the Bitcoin market and data had confirmed that it owned more than 2% of Bitcoin’s value currently circulating in the market. But, while the company has chosen to ride the Bitcoin high, it has also decided to cut off all its ties with XRP, Ripple Lab’s token. However, they have not made any official announcement as yet. The Securities and Exchange Commission (SEC) had announced a lawsuit last week against Ripple Labs, over XRP’s status as a security. Since then, a number of companies have decided to sever their connections with the token, as they don’t want to get into any trouble with the leading regulatory agency.

It was recently suggested by a Twitter user that Grayscale might have shut down its Ripple Trust. The user added that Grayscale would soon make an announcement of not accepting any new XRP Fund subscriptions or processing the ones that already exist. Currently, the web portal of Grayscale’s XRP Fund shows that it is closed to investment. Other names that have suspending XRP include names like Bitwise Asset Management, OKCoin and Coinbase as well.