{"id":95670,"date":"2020-10-23T04:35:48","date_gmt":"2020-10-23T01:35:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/grayscale-adds-a-cool-300m-in-a-day-and-1b-this-week\/"},"modified":"2020-10-23T04:35:48","modified_gmt":"2020-10-23T01:35:48","slug":"grayscale-adds-a-cool-300m-in-a-day-and-1b-this-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/grayscale-adds-a-cool-300m-in-a-day-and-1b-this-week\/","title":{"rendered":"# Grayscale adds a \u2018cool $300M\u2019 in a day and $1B this week"},"content":{"rendered":"

“# Grayscale adds a \u2018cool $300M\u2019 in a day and $1B this week <\/strong>”
\n<\/p>\n

Crypto fund manager Grayscale Investments has increased its assets under management (AUM) by $1 billion in the space of a week.<\/p>\n

According to an update posted<\/a> to Grayscale\u2019s Twitter<\/a> account on Oct. 22, the investment firm currently has $7.3 billion in assets under management (AUM). That’s a billion-dollar increase on the $6.3 billion AUM Grayscale reported on Oct. 15. Each report is delayed by 24 hours so it refers to the previous day’s figure.<\/p>\n

The funds are mostly held in Grayscale\u2019s trusts for Bitcoin (BTC) and Ethereum (ETH), along with the firm\u2019s digital large cap fund. The most recent spike is likely linked to the surge in crypto market prices following the recent news<\/a> PayPal would offer crypto payments from 2021. <\/p>\n

Grayscale reported its Litecoin (LTC) Trust had increased the most since the previous day’s report, by more than 7.5%. The company’s Zcash (ZEC) Trust increased by more than 6% in the same period. The firm also has small allocations in Ethereum Classic (ETC), Horizen (ZEN<\/a>), Stellar Lumens (XLM), XRP, and Bitcoin Cash (BCH).<\/p>\n

Grayscale CEO Barry Silbert commented<\/a> on the investment firm\u2019s recent rise on Twitter, stating it had \u201cadded a cool $300 million in AUM in one day.\u201d<\/p>\n

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Added a cool $300 million in AUM in one day https:\/\/t.co\/G2lKu6QqxI<\/a><\/p>\n

\u2014 Barry Silbert (@BarrySilbert) October 22, 2020<\/a><\/p><\/blockquote>\n

With Grayscale\u2019s Bitcoin Trust currently holding more than $6B assets under management, this effectively means the investment firm controls roughly 2.5% of the total coin supply \u2014 currently at 18,522,937 according<\/a> to CoinMarketCap. The total supply of Bitcoin is capp<\/a>ed at 21 million, meaning there are roughly 2.5 million BTC left to be mined, or about 11.9% of the total Bitcoin to be generated.<\/p>\n

Grayscale has recently be joined by other major financial institutions that also see the potential of crypto. Along with MicroStrategy\u2019s purchase of $415 million BTC this year, monitoring resource Coin98 Analytics reported digital asset manager CoinShares controlled 69,730 BTC as of last week \u2014 worth more than $900 million following the coin\u2019s surge past $13,000 today. <\/p>\n<\/div>\n