Grayscale's investment in Ethereum exceeds $10 billion

The management company holds over $44 billion in cryptocurrency in total

Grayscale's investment in Ethereum exceeds $10 billion

Assets managed by the Grayscale Ethereum Trust exceeded $10 billion, which corresponds to the value of more than 3 million altcoins at the market rate. The Grayscale management company is one of the largest holders of Vitalik Buterin’s altcoin. It is gradually increasing its Ethereum holdings: in February, for example, it increased its portfolio by 20 thousand ETH.

Since the last report, the value of all cryptocurrency assets under Grayscale’s management has grown from $41.4 billion to $44.8 billion. Initially, the company gave investors the opportunity to invest in bitcoins. Now, in addition to the largest cryptocurrencies by capitalization, Grayscale customers can invest in altcoins, including decentralized finance.

Grayscale’s portfolio also includes Ethereum Classic worth over $800 million and Litecoin worth about $300 million, as well as over 640,000 BTC worth $32 billion. Grayscale is the world’s largest cryptocurrency asset manager.

In early August, the company hired former head of index provider Alerian David LaValle as head of ETF funds. LaValle will work to convert Grayscale Bitcoin Trust and the company’s other funds into ETFs. Grayscale also plans to hire about a dozen other professionals to work on the ETFs.

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