Top-tier digital assets manager Grayscale has seen an increase in the value of its total AUM (Assets Under Management) to above $50 billion as bitcoin’s price marked a new all-time high recently.
The Grayscale Bitcoin Trust (GBTC) is now worth over $41 billion, while the Ethereum Trust (ETHE) holds over $7.4 billion.
As reported, Grayscale added five new tokens to its list of trust offerings, including Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT).
According to the firm, this integration came shortly after seeing a large inflow of clients demanding exposure to other cryptos, while most dominant assets consolidated at the beginning of March.
Now, the company reports that its total assets under management (AUM) have grown in value to more than $50 billion for the first time ever. It’s a major milestone for Grayscale.
At the time of writing, BTC is trading at around $63,000 while Ethereum’s ETH eyes $2.5K and a lot of other altcoins looking very well across the board.
As the interest for crypto assets increases, the firm’s total AUM is growing rapidly. On April 9, Grayscale’s total AUM grew by more than $1 billion in less than 24 hours. Michael Sonnenshein, the CEO, has stated that the firm amplified its suite of investment trusts as accredited investors and clients were demanding exposure to more cryptocurrencies.
Institutional investors have also intensified their demand, while Bitcoin mining companies are making big purchases of Antminers. As reported, Riot Blockchain bought 42,000 S19 Antminers from crypto-mining company Bitmain, totalling a purchase worth 138.5 million.