Grayscale Bitcoin Trust (GBTC) Surges Past $10 Billion Assets Under Management

By Bhushan Akolkar
Published November 25, 2020 Updated November 25, 2020
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Grayscale Bitcoin Trust (GBTC) Surges Past $10 Billion Assets Under Management

By Bhushan Akolkar
Published November 25, 2020 Updated November 25, 2020

Digital asset manager Grayscale continues to amass more and more Bitcoins as the Grayscale Bitcoin Trust (GBTC) clocks over $10 billion of assets under management (AUM). In the latest update, Grayscale notified that the total assets under management have also moved past $12 billion meaning the GBTC contributes a whopping 83% of its total value.

The latest development comes as the BTC price crosses the $19,000 mark hitting its new 2020-high on Tuesday, November 24.

November 2020 remains one of the biggest months of growth for Grayscale. The digital asset manager has added an additional $2 billion in total AUM just within a week of crossing the $10 billion milestones.

In it interesting to note that the Grayscale Bitcoin Trust (GBTC) assets under management have surged 52% so far in November. The GBTC has added $3.6 billion worth of Bitcoins as the institutional FOMO triggers. In one of its recently published investor surveys, Grayscale mentions that investors are showing significant interest in safe-haven assets.

This is not surprising looking at the global economy contours in the wake of the COVID-19 economic crisis. Grayscale explains how Bitcoin potentially shows the safe-haven characteristics driving massive investor interest. Against the ongoing liquidity crisis and fears of inflation, Grayscale also explains BTC’s role as a potential inflation hedge.

Grayscale Ethereum Trust (ETHE) Nears $1.6 Billion AUM

Although significantly smaller in size compared to GBTC, the Grayscale Ethereum Trust (ETHE) has registered nearly 60% growth this month in November 2020. As per the latest update, the ETHE has a total of $1.598 billion of assets under management and is the second biggest crypto investment vehicle after GBTC.

The latest development comes as the Ether (ETH) price has been flirting around $600 levels. After moving past $600 on Tuesday, the ETH price failed to sustain those levels and has corrected nearly %% since then. At press time, ETH is trading at $586 with a market cap of $66.5 billion.

After a major rally over the last weekend, it looks like Ethertuem (ETH) is facing bearish pressure as of now. Despite that, ETH remains at one of the top-performing cryptocurrencies with over 330% year-to-date returns.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan Akolkar
772 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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