The cryptocurrency market’s resurgence over the past few weeks has kick-started significant asset movements on major exchanges. As the world comes to terms with dealing with life in quarantine, the market fluctuations represent the growing investor’s interest across the board.
Grayscale Investments, one of the largest and most popular cryptocurrency investment companies recently announced that over the past few weeks, the amount of holdings had increased steadily. A calculation by the company showed that the total Assets Under Management had increased to a whopping $6.1 billion.
According to Grayscale, a majority of the investments had flow into the Grayscale Bitcoin Trust. Bitcoin’s bullish performance over the past few had instilled confidence among its holders, who have brought into the market once again. The Bitcoin aspect of the trust amounted to $5037 million with a 3.2 percent increase on the daily. . The market price per share was calculated to be $14.75 percent while the holdings per share came to $11.6.
> $6 billion https://t.co/9oJLQZ0aZL
— Barry Silbert (@BarrySilbert) August 17, 2020
After Bitcoin, Bitcoin Cash held the major Grayscale repository with a $30.7 million hold in the trust. The BCH holdings per share were $2.94 percent with a 6.91 percent change every day. Bitcoin Cash’s volatility was one of the largest when compared to Bitcoin and Ethereum. Ethereum made up the the podium in Grayscale’s investment fund. The world’s largest altcoin had a total holding of $876. 6 million with a daily change of $1.61 percent. Ethereum’s market share held a healthy $83.9, which was the largest among its compatriots.
Grayscale’s Litecoin holdings were lesser than that of Ethereum Classic’s, Ethereum’s hard fork that has surprisingly made a positive impact in some areas. ETCG had a holdings per-share value of $6.64 while the daily change was 6.58 percent. At the same time, Litecoin’s Grayscale AUM amounted to $19.8 million at a daily rate change of 13.91 percent.
The Trusts by Grayscale are open-ended and sponsored by the company. Their main intention is to enable exposure to the price of movement of each trust’s underlying assets. This process avoids the challenges of storing, buying and safekeeping any of the aforementioned digital assets.
