The current Bitcoin-led rally in the cryptocurrency market is also causing an exponential kind of growth for many institutional-grade crypto products. The leading digital currency, Bitcoin (BTC), surged to another yearly above the $17,600 on Tuesday, while some other cryptocurrencies also picked up a few points. Amid the market rally, Grayscale Investments posted yesterday that its assets under management (AUM) made another milestone record.
Per the information shared on Twitter, Grayscale assets are currently worth $10.4 billion, which represents an all-time high (ATH) from the assets valuation. Grayscale Investments is an institutional-grade digital asset investment platform. The company’s assets are mostly dominated in its Trust product for nine popularly-traded digital currencies, including Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, etc., and the Grayscale Digital Large Cap Fund.
To compare to growth today, it’s worth noting that Grayscale Investments assets only surpassed a $9 billion AUM on November 8, as Cryptopolitan reported. Judging by this, the company raked in about $1.3 billion in assets within a period of ten days. A significant percentage of the value of the assets is dominated in Grayscale’s Bitcoin Trust. Per the information, the Bitcoin Trust product accounts for about $8.8 billion, with the second-largest, Ethereum Trust coming in with $1.2 billion.
One plausible reason for the exponential increment in Grayscale AUM value is the current upticks in the crypto market, especially for Bitcoin and Ethereum. More so, the company sees strong inflows, according to Michael Sonnenshein, Managing Director at Grayscale Investments. He informed on Friday that the company added about $262 million in the capital, which is the largest ever raised.