Total value of digital assets under Grayscale’s management plummets to record low after recent market correction. The details are here.
Big drop in Grayscale AUM!
The latest correction in the cryptocurrency market is the total value of Grayscale’s digital assets under management (AUM) caused a huge decline. While it had $53.1 billion in crypto assets on May 13, 2021, it currently has $42.2 billion in crypto AUM.
According to the official statement made by Grayscale on Twitter, the world’s largest cryptocurrency asset Its manager currently manages about $29 billion worth of Bitcoin. The company holds approximately 650,000 BTC in total.
The total Ethereum value under the company’s management is $10 billion.. The recent decline in the world’s second-largest cryptocurrency has resulted in a significant drop in Grayscale’s overall value among Ethereum-owned fund managers.
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Although the current value of Grayscale’s total assets under management decreased after the decline in cryptocurrencies, the increase in AUM, which was $ 20 billion at the beginning of the year, is remarkable.
Aside from Bitcoin and Ethereum, Grayscale has many other investments, including Bitcoin Cash trust, Ethereum Classic trust, and Litecoin trust.
Grayscale also launched cryptocurrencies with the launch of Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT) mutual funds in March 2021. investment management services gen
The current market value of cryptocurrencies has reached $2.1 trillion as of today. Despite the massive drop in market dominance, BTC is trading above $45,000. Bitcoin’s current market value is currently over $840 billion. Ethereum, on the other hand, is currently trading close to $3,470 with a market cap of around $400 billion.
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