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Grayscale’s Total AUM Increases to $49.2 Billion as Bitcoin Breaks Above $62k

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As the interest in digital assets spikes, Grayscale’s total AUM is becoming one of the fastest-growing trusts in the in industry.

Grayscale‘s total AUM (Assets Under Management) now holds at $49.2 billion, a $3 billion increase compared to its previous $46.1 AUM in less than four days.

Now the Grayscale Bitcoin Trust (GBTC) has 40,535 million in total AUM, while the Ethereum Trust (ETHE) holds $7,067 million. Other important assets that make up that total are the Grayscale Bitcoin Cash Trust, with 208.5 million and the Litecoin Trust, with 392.4 million.

This increase follows Bitcoin new all-time high of $62,000 and other currencies settling new records, like BNB and Ethereum, which surpassed prices of $600 and $2,200, respectively.

Grayscale’s AUM Growing at a Fast Rate

As the interest in digital assets spikes, Grayscale’s total AUM is becoming one of the fastest-growing trusts in the in industry. The recent increase came in less than four days when it was holding at $46.1 billion. By April 9 the trust increased its total AUM by $1 billion in just 24 hours.

The addition of new tokens to its list of trust offerings gave the total AUM a boost as well. As reported, Grayscale added five new tokens to amplify its crypto-trusts, integrating Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT). These tokens saw a boost in price after the announcement, surging 50 to 70% in most cases.

Michael Sonnenshein has stated that the firm has seen a large inflow of accredited investors and clients seeking exposure to crypto assets as well. He added that institutional interest is “nowhere near the end,” as Bitcoin poises for another possible bull run.

Grayscale also confirmed its plan to turn its GBTC into a fully operable Bitcoin Exchange-traded fund, after posting several ETF-related job positions on its career page. While other elite investment firms have filed S-1 forms to the Securities and Exchange Commission, Grayscale has stated that the current regulation weather is not suitable for a BTC ETF. However, the firm will look into turning its GBTC into an ETF as the regulatory environment in the United States becomes clearer.

“This is a subject that Grayscale has been examining closely from both a commercial and regulatory perspective for several years. While several firms have submitted Bitcoin ETF applications in the form of an S-1 or 19b-4 to the SEC, we are confident in our current positioning and engagement with the SEC”.

Read other news from the crypto industry here.

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I’m a finance journalist and copywriter with a keen interest in the fintech field. I have keen on blockchain technology and cryptocurrency and I believe it can reshape the way we see money and financial freedom.





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Ethereum price closes in on $4K as Shiba Inu (SHIB) steals Dogecoin’s thunder

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The crypto market has rallied into the weekend as Ether (ETH), Dogecoin (DOGE) and Shibu Inu (SHIB) hit new all-time highs as they lead the pack of altcoins up the market cap mountain. 

Much of the excitement behind Dogecoin’s rally has been attributed to the upcoming appearance of Elon Musk, the CEO of Tesla and a Dogecoin advocate, on the popular Saturday Night Live comedy sketch show. Ether, on the other hand, continues to rally toward $4,000 as institutional interest in the altcoin soars and the approaching London hard fork have investors feeling extra bullish.

Data from Cointelegraph Markets and TradingView shows that after briefly dipping to a low of $3,418 in the late hours on May 8, Ether price regained its composure and proceeded to vault 13% to reach a new all-time high at $3,958. 

ETH/USDT 4-hour chart. Source: TradingView

While some have been surprised by the bullish movement from the second-largest cryptocurrency by market capitalization, it comes as no shock to Cointelegraph market analyst Marcel Pechman who recently detailed how Ether “could easily sustain until $5,000.”

Bitcoin (BTC) has used its time out of the spotlight to quietly climb higher with bulls now attempting to hold the price above $59,000.

Canine-themed ‘meme coins’ lead the pack

Dogecoin has emerged as one of the biggest mainstream attention grabbers in cryptocurrency history as scores of new users got their first taste of crypto trading from the popular meme token.

The week-long build-up in momentum for DOGE led to a 25% surge in the early trading hours on Saturday that lifted its value to a new all-time high at $0.74 before profit-taking dropped the price back below $0.68.

DOGE/USDT 4-hour chart. Source: TradingView

Thanks to the global attention that Dogecoin has attracted, a number of canine-themed projects have arisen, including Shiba In (SHIB), which burst onto the scene following a two-day rally that saw its value launch 1,100% higher to establish a new record high at $0.0000178.

The overall cryptocurrency market cap now stands at $2.463 trillion and Bitcoin’s dominance rate is 44.8%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.