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Grayscale bitcoin holdings exceed $ 3 billion and grow 76% year-over-year

May 20, 2020

Grayscale, a major fund for the management of digital assets, The company continued to grow this year and its total assets under management (AUM) reached new highs.

After a Tweet From May 19, Grayscale reached a total of AUM $ 3.8 billion, an increase of more than 80% compared to $ 2.1 billion in May 2019.

Bitcoin’s trust continues to gain momentum

Grayscale’s Bitcoin Trust (BTC) continued to lead other cryptocurrencies in the fund, representing $ 3.36 billion, or 89% of the company’s total AUM. Grayscale’s Bitcoin Investment Trust grew 76% from $ 1.9 billion in the previous year. At the same time, Grayscale’s share of Bitcoin’s trust declined slightly, falling from 94% in May 2019.

Grayscale bitcoin holdings exceed $ 3 billion and grow 76% year-over-year
Grayscale bitcoin holdings exceed $ 3 billion and grow 76% year-over-year

Grayscale AUMs in May 2020. Source: Twitter

The massive increase in the value of Grayscale’s Bitcoin confidence is due to a significant year-to-year rise in BTC prices. At press time, Bitcoin is trading at $ 9,745, an increase of approximately 30% from $ 7,600 the previous year.

Bitcoin price year after year. Source: Coin360

According to the data, the Grayscale Ethereum (ETH) Trust is now the second largest trust among the fund’s 10 trusts. ETH’s escrow accounts at Grayscale total $ 289 million, followed by the Grayscale Ethereum Classic (ETC) Trust, which owns $ 73 million.

Grayscale was founded in 2013 by the Digital Currency Group and is a major global cryptocurrency investment fund. The fund is regulated by global agencies such as the United States Financial Regulator and the Securities and Exchange Commission. Grayscale was reportedly the first digital asset trust to begin reporting to the SEC in January 2020.

April 2020 Grayscale reported that the company had approximately 1.7% of the total Bitcoin offering in its Grayscale Bitcoin Trust.. At the time, the company also announced that it had its largest quarter despite the economic crisis triggered by the COVID 19 pandemic.