According to a recent message from Grayscale on Twitter The company’s value of assets under management (AUM) is now $ 5.1 billion. Most of these assets are held in funds dedicated to Bitcoin (BTC) and Ethereum (ETH). However, the company also owns smaller stakes in Bitcoin Cash (BCH), Ethereum Classic (ETC), Horizen (ZEN, Litecoin (LTC), Stellar Lumens (XLM), XRP and Zcash (ZEC).
Assets managed by Grayscale. Source: Twitter
The grayscale AUM rose by $ 1 billion in just 11 days, after an update released by the company on July 17th.
Specially, Grayscale more than doubled its BCH Trust AUM from $ 6 to $ 12.8 million. In addition, $ 782 million was added to the BTC Trust, $ 174 million to the ETH Trust, $ 12.7 million to the ETC Trust, and $ 6.7 million to the LTC Trust. The Stellar Lumens Trust’s AUM, on the other hand, decreased from $ 600,000 to $ 500,000.
Bitcoin not bought in six weeks
Although Grayscale owns $ 4.3 billion in Bitcoin, Some documents filed with the U.S. Securities and Exchange Commission indicate that the company stopped buying cryptocurrency after June 19when he bought 19,879 BTC. However, a representative of grayscale confirmed that the suspension of the acquisition is only temporary. Before that date The company bought more cryptocurrencies than miners could produce.
According to the grayscale report for the third quarter of 2019 80% of this year’s revenue from the company’s BTC trust came from bitcoin that was already in circulation, not from freshly mined tokens. The company refers to these purchases as “property exchanges”.
Ryan Watkins from the cryptanalysis company Messari, said In June, this meant that grayscale was more likely to buy only 31% of the new BTC that had been mined since halving on May 11.
BCHG and LTCN will soon be available on the OTC markets
July 17th The U.S. regulator for the financial industry has reviewed whether the Grayscale Bitcoin Cash Trust and Litecoin Trust funds are ready to be listed on the OTC markets. The two shares will soon be available to the public with the initials BCHG and LTCN.