Grayscale Crypto Trust Fund Tops $6 Billion in AUM


grayscale trust fund
Grayscale LLC

Grayscale Crypto Trust Fund Tops $6 Billion in AUM

Grayscale Crypto Trust Fund tops $6 billion in AUM (Asset Under Management). Bitcoin [BTC] accounts for $5 billion (83.33%) of the total assets. The AUM under the Ethereum Fund is 876.6 M, accounting for nearly 14.6% of the asset at Grayscale. The update from Arcane Research on Grayscale LLC.’s AUM point towards a high institutional interest in these assets. 

On Tuesday, Grayscale LLC. added support for Litecoin [LTC] and Bitcoin Cash [BCH] to the list of it’s Crypto Trust Fund .Grayscale’s list of digital assets currently includes 9 cryptocurrencies along with a large-cap fund.

grayscale and crypto AUM
Grayscale Crypto Asset Under Management

High Premiums With Bitcoin

The premium on these crypto-assets is further indicative of the bullishness in the market. GBTC premium over the NAV has been ranging between 7% and 40%; currently over 23%.

grayscale bitcoin trust
Grayscale Bitcoin [BTC] Trust (Price Vs. NAV) (Source)
The premium on the NAV for Litecoin [LTC] and Bitcoin Cash [BCH] is quite high.

The premium of LTCN is at a whopping 753%… The current premium of BCHG is at 351%.

The premium for Litecoin is soaring above BCH reflecting a higher buying pressure for LTC. However, the total AUM for Bitcoin Cash [BCH] is more than the AUM for Litecoin [LTC]. Its been only two days since the launch of these two products and the excessive premium is expected to normalize. Nevertheless, the update also notes that the premium for ETHE is over 90% and was as high as 800% in June.

The premium on these products, however, are indicative of another incentive driving the interest in these assets. The high premium attracts institutions looking to benefit from the difference in the rate of loaning undercollateralized crypto compared to the premium rates. The premium rates of GBTC fell around mid-July as the lock-in period expired. It is expected to occur again around October 2021. These premiums are also expected to drop post the launch of Bitcoin ETFs. 

How long do you think before the SEC approves a Bitcoin ETF? Please share your views with us. 

Author: Nivesh Rustgi
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com
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Nivesh Rustgi 1181 Articles
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com
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