Grayscale, a cryptocurrency money manager, now has $60 billion in digital assets under its care, according to the firm’s Wednesday report.
In terms of assets under management, it has already eclipsed SPDR Gold Shares, the world’s largest and most liquid gold exchange-traded fund. Grayscale’s AUM just surpassed $60 billion, and the company recently acquired the world’s largest gold fund. The AUM of SPDR Gold Shares is $58.3 billion.
Grayscale Bitcoin Trust, with $43.5 billion in assets, accounts for 71% of the total. With $14.8 billion, the firm’s Ethereum fund is a distant second.
Grayscale created trust funds for a variety of cryptocurrencies earlier this year, as well as a fund dedicated only to the decentralized finance (DeFi) market.
Grayscale, a subsidiary of venture capital firm Digital Currency Group, submitted paperwork earlier on 19th Oct. to convert its Bitcoin fund to an exchange-traded fund. Analysts, on the other hand, believe that approval of a spot ETF in the United States is exceedingly improbable at this time. As of early November, Digital Currency Group was valued at $10 billion.