Grayscale Is Approaching $50 Billion in Digital Assets Under Management

Grayscale, a global leader in digital currency asset management that provides single asset and diversified exposure via private and public funds, has provided updates (as of April 30, 2021) on its total assets under management (AUM), holdings per share, and market price per share for its wide range of digital asset investment products.

Grayscale‘s total AUM, as of the end of April, are $46.7 billion.

Some of the major crypto-assets featured in the company’s portfolio include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar (XLM), Zcash (ZEC), Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT).

A detailed breakdown of these assets, by Grayscale is shared below.

As reported recently, Time Magazine will hold Bitcoin on its balance sheet and perhaps pay some people in BTC in a new partnership with Grayscale. This, according an update from Michael Sonneshein, CEO of Grayscale.

As covered earlier this month, Grayscale had said that it is “100% committed to converting GBTC” to an Exchange Traded Fund (ETF).

GBTC trades on OTC Markets and allows retail investors to easily invest in Bitcoin via a traditional brokerage account. On the advent of GBTC, Grayscale became the first company to launch a publicly traded Bitcoin fund in the U.S. and the first to convert a Bitcoin fund into an SEC-reporting company.

As more financial services firms file to offer a Bitcoin ETF (and Canada already offers them), pressure is growing on the Securities and Exchange Commission to approve an ETF based on crypto.

Grayscale states in a blog post:

“Grayscale first submitted an application for a Bitcoin ETF in 2016 and spent the better part of 2017 in conversations with the SEC. Ultimately, we withdrew our application because we believed the regulatory environment for digital assets had not advanced to the point where such a product could successfully be brought to market. While several firms have submitted Bitcoin ETF applications in the form of an S-1 or 19b-4 to the SEC, we are confident in our current positioning and engagement with the SEC. Today, we remain committed to converting GBTC into an ETF although the timing will be driven by the regulatory environment. When GBTC converts to an ETF, shareholders of publicly-traded GBTC shares will not need to take action and the management fee will be reduced accordingly.”

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