Grayscale, a digital asset manager, has a sizable Ethereum holding. Grayscale now has over 3 million ETH in its asset under management (AUM), totaling more than $10 billion, according to a recent report. As a result, the asset management is one of the largest Ethereum holders in the market.
The asset manager has built up its ETH holdings over time, adding about 20,000 ETH to its portfolio in February. According to the most recent disclosures, the New York-based asset manager has doubled its crypto holdings since its last report, bringing the total assets under management to $41.4 billion.
The Interest in Ethereum Isn’t the Only One
The fund began by offering clients a means to invest in Bitcoin through the stock market. However, Grayscale has added more crypto-assets to its portfolio over time to provide investors broader market exposure. Grayscale’s cryptocurrency management covers a wide range of coins. Bitcoin, Ethereum, Litecoin, Ethereum Classic, and a variety of other cryptocurrencies are among the assets it manages.
Grayscale’s Ethereum Trust has a market capitalization of around $10 billion | Grayscale on Twitter
Grayscale’s portfolio includes approximately $700 million in Ethereum Classic and over $300 million in Litecoin, in addition to its $10 billion in ETH and $29 billion in BTC. Grayscale is the world’s largest crypto asset manager, based on the size of its assets under management.
Grayscale debuted a new DeFi fund in July, bringing it into the DeFi market for the first time. The fund was the firm’s first of its sort, although it would be the firm’s second diversified product fund. The Coindex DeFi Index was used to create this fund.
The most valuable asset under management
Despite the fact that Ethereum accounts for a significant portion of the asset manager’s portfolio, bitcoin remains the most valuable asset. Grayscale has about 640,000 Bitcoins in its possession, with a total worth of nearly $30 billion. Making up the majority of the portfolio’s assets under management. The asset manager’s Ethereum holdings make it the second-largest investment in its portfolio, after bitcoin.
The trust has also benefited from the market’s recent bull run. In the last three weeks, the price of Ethereum has risen dramatically. Seeing the price of the digital asset settle securely over $3,000, a price it had been unable to break since the asset’s tumble from its all-time high.
At the time of writing, the price of Ethereum is trading above $3,200, with a 24-hour price movement of 0.71 percent.