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Grayscale Bitcoin, Altcoins Poised to Hit $10B Milestone

Grayscale Bitcoin, Altcoins Poised to Hit $10B Milestone
  • Grayscale Bitcoin and altcoin assets under management (AUM) have totaled $9.8 billion.
  • This makes Grayscale $200 million shy from reaching $10 billion.
  • Grayscale Bitcoin has the bulk of the entire figure.

Grayscale Bitcoin and altcoin assets under management (AUM) have totaled $9.8 billion, making it $200 million shy from reaching the $10 billion milestone.

The figure was shown on November 13 through Grayscale’s tweet, wherein it showed the figures for each crypto.

Topping the list is Bitcoin, wherein Grayscale manages up to $8.2 billion. Following it is Ethereum, wherein the crypto hedge fund holds $1.2 billion. Combining these two alone, Grayscale already has $9.4 billion in its custody.

The rest of the remaining amount is distributed among popular altcoins such as Bitcoin Cash, Ethereum Classic, XRP, and Litecoin. Other crypto contenders such as Stellar Lumens, Horizen, and Zcash. Furthermore, Grayscale Digital Large Cap Fund contributes $138.8 million to the total amount.

Interestingly, Grayscale added $1 billion of the said figure during the 3rd quarter of 2020 alone. Also, crypto inflows for the last three quarters of this year amounted to $2.4 billion — that’s about twice as much as the crypto hedge fund invested from 2013 up to 2019.

Many analysts and members of the crypto community believe that Grayscale’s Bitcoin investments are helping BTC skyrocket. Currently, one BTC is worth $16,233.34, according to crypto metrics site CoinGecko.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.