Grayscale Investments adds $300 million in net assets in under 24 hours! Grayscale Investments adds $300 million in new assets, bringing its total assets under management to $7.3 billion according to a tweet by Barry Silbert, chief executive officer of the Digital Currency Group.
The biggest daily increases were in the Litecoin trust, whose value rose 8% to $34.3 million dollars.
The Bitcoin Trust remains Grayscale’s biggest portfolio, crawling itself to $6 billion. The ETH and BCH trusts rose 4.9% and 4.6% respectively. PayPal’s somewhat expected plunge into crypto this week appears to have lit a fire in the market.
The $300 million that Grayscale added represents a significant increase over the $1.05 billion in investments that it amassed over a whole 90-day period during the third quarter of 2020. Grayscale is also expected to continue to grow immensely due to growing corporate interest in Bitcoin and cryptocurrency.
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