Barry Silbert, head of Grayscale Investments, said the company’s crypto assets rose by $300 million in a single day.
Added a cool $300 million in AUM in one day https://t.co/G2lKu6QqxI
— Barry Silbert (@BarrySilbert) October 22, 2020
The total value of the crypto assets under management by the investment firm reached $7.3 billion.
The Grayscale Bitcoin Trust (GBTC) surpassed $6 billion, and the second-most-popular Ethereum Trust nearly reached $1 billion. The Litecoin Trust posted the largest daily gain — 36.27%.
According to Bitcoin Treasures, the volume of investments by public companies in the first cryptocurrency exceeded $10 billion. At the time of writing, this figure corresponds to 785,999 BTC.
The uptick in Grayscale’s assets under management comes amid a rally in Bitcoin. On October 23, the asset was trading near $13,000.
Hourly BTC/USD chart from Bitstamp on TradingView.
Earlier, CryptoCompare reported that BTC holders earned more than Grayscale’s Bitcoin Trust clients. From September 20 to October 20, the price of the first cryptocurrency on the spot market rose by 6.6%, and GBTC’s price rose by only 3%.
As of October 20, assets under management by Grayscale Investments stood at $6.5 billion.
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