Grayscale has increased its total AUM (Assets Under Management) to $49.2 billion USD, getting closer to the $50 billion USD mark as Bitcoin spiked above $62,000 USD today.
Its most popular investment product, the Grayscale Bitcoin Trust (GBTC) now holds $40,534 million USD, while the Grayscale Ethereum Trust (ETHE) holds over $7 million USD.
AUM Growing Every Day
Grayscale total AUM has been growing at a fast rate as Bitcoin and altcoins surged in the past weeks.
The addition of five new tokens also boosted Grayscale’s total AUM. As reported, the firm added five cryptocurrencies to its suite of investment trusts, including Chainlink (LINK) Filecoin, Livepeer, Basic Attention Token (BAT) and MANA (Decentraland).
On April 9, Grayscale’s total AUM grew by $1 billion USD worth of Bitcoin in almost 24 hours, according to the report. Some weeks before the total AUM grew over $3 billion USD in just four days.
On Saturday, Bitcoin broke above $80,000 AUD after several weeks of strong consolidation, a new all-time high for the father-of-all cryptos.
Grayscale’s Intention for a BTC ETF
Grayscale also plans to turn its GBTC into a proper Bitcoin Exchange-traded fund, after hinting at various ETF-related job positions on its career page.
Unlike other elite institutions like Goldman Sachs and VanEck, Grayscale will not file an S-1 form with the Securities and Exchange Commission. The company said that it will develop its BTC ETF as the regulatory weather on the United States becomes clearer.
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