Grayscale Investments’ total AUM rises to $3 billion as Bitcoin sets record high for 2019

The largest cryptocurrency in the market continues to enjoy its roller coaster ride, marking another record high for the year yesterday. Bitcoin has recorded high gains not only with respect to price, but also in terms of market dominance. On one hand, the cryptocurrency reached an aggregated peak of $13,793.51 this week, taking a step closer to breaching the $14,000 level. On the other hand, its market dominance stood at 62.98 percent, the highest for the past one year. Notably, this hike also contributed to the rise of the cryptocurrency market as a whole.

Interestingly, Grayscale Investment’s assets under management have also seen a significant rise. The investment firm behind the #DropGold campaign, a movement to increase investment in Bitcoin, recorded an increase of nearly a billion in its AUM.

Towards the end of May 2019, the asset management firm reported a total AUM of $2.1 billion, with Single-Asset Products recording an AUM of $2.05 billion and the Digital Large Cap Fund recording $18.4 million. Now, Grayscale Investments has reported a total AUM of $3.0 billion for June 27, with Single-Asset Products recording an AUM of $2.9679 billion and the Digital Large Cap Fund registering an AUM of $25.5 million.

The cryptocurrencies in Single-Asset Products were Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Horizen, Litecoin, Stellar Lumens, XRP and ZCash. The digital currencies in its Digital Large Cap Fund under Diversified Products were noted to be Bitcoin, Ethereum, Bitcoin Cash, XRP and Litecoin. Grayscale’s tweet announcing the same read,

Barry Silbert, CEO of Digital Currency Group, welcomed the announcement, tweeting,

“Woot! $3 billion in assets under management. Go digital, go Grayscale”

Follow us on Telegram | Twitter | Facebook

Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Source link

Show More

Leave a Reply

Pin It on Pinterest

Share This

Share this post with your friends!