Crypto fund manager Grayscale Investments has managed to increase its assets under management by another $1 billion in less than two weeks. According to an update posted to Grayscale’s Twitter account on July 28, the investment firm currently has $5.1 billion in assets under management (AUM). The funds are mostly held in Grayscale’s trusts for Bitcoin (BTC) and Ethereum (ETH), along with the firm’s digital large cap fund. There are smaller allocations in Bitcoin Cash (BCH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC).
However, according to Grayscale’s report from Q3 2019, 80% of inflows that quarter to the firm’s BTC trust came from Bitcoin already in circulation — not from tokens recently mined. The firm refers to these purchases as “in kind” exchanges.
Ryan Watkins of crypto analytics firm Messari said in June this meant that Grayscale was more likely buying just 31% of new BTC mined since the May 11 rewards halving. According to Watkins, no new crypto was going into the firm’s Ethereum trust at all.
Grayscale’s Crypto Funds Grow by $1 Billion in Just 11 Days, CoinTelegraph, Jul 29
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