Grayscale, the world’s largest digital asset manager, recently published an update on the total value of the company’s crypto assets under management. according to PreparationThe digital asset management firm now owns approximately $45 billion in crypto assets under management (AUM).
Bitcoin is Grayscale’s largest holding. At present, the company has over $32 billion worth of BTC under management. Grayscale’s Ethereum Trust is the second most valuable trust with a total value of over $10 billion. Apart from BTC and ETH, the digital asset management company holds other cryptocurrencies, including Ethereum Classic, Litecoin, and Bitcoin Cash in large quantities.
Grayscale’s total crypto AUM value increased sharply in 2021. The company started 2021 with nearly $20 billion in AUM crypto assets. The recent surge in the popularity of crypto assets and the huge jump in the price of Bitcoin and Ethereum have played an important role in the overall growth of Grayscale’s AUM cryptocurrency.
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In a recent interview with Bloomberg, Michael Sonnenchin, CEO of Grayscale, highlighted the recent growth of the cryptocurrency ecosystem. “The digital currency ecosystem continues to allow new use cases and new protocols to emerge, and we are starting to see the convergence of digital assets and things like gaming or file storage. We will definitely see new protocols emerge before we see standardization,” Sonnenshein She said.
Crypto price movement
The total market capitalization of digital assets rose by nearly $60 billion yesterday. Bitcoin, Ethereum and Dogecoin saw solid gains. Despite the recent decline in today’s trading session, bitcoin is still trading above the $51,000 level.
Bitcoin is currently at $51,400 as the coin has seen a 25% increase over the past seven days. Technical indicators are bullish, with analysts anticipating an upward trend until Christmas and some seeing $50,000 as a new support level. Freddy Evans, sales trader at GlobalBlock, said this latest Bitcoin advance may be a repeat of history after the Chinese ban on crypto activities.