By Alicia Maher
Grayscale, a virtual asset management company located in New York, has provided an update on the overall worth of the crypto assets under its administration (AUM). The entire value of the firm’s crypto assets under management (AUM) increased by nearly $1.5 billion in the previous 24 hours, as Bitcoin and Ethereum witnessed significant bullish momentum.
According to Grayscale, the Bitcoin Trust managed by the business currently has holdings worth approximately $31 billion in administration. For its part, the overall market capitalization of Grayscale’s Ethereum Trust reached approximately $11 billion on the 15th of this month. The digital asset management company now has more than 640,000 Bitcoin and about 3.1 million Ether in its possession.
Grayscale announced a collaboration with iCapital Network, one of the world’s largest financial digital platforms, earlier this week. The agreement will provide over 6,700 iCapital Network’s consultants access to digital assets, thus servicing high-net-worth customers through a Grayscale broadly diversified investment plan.
In the previous eight months, Grayscale has seen significant growth in the valuation of the crypto assets under its care. Because the world’s top two digital currencies make for more than 90 percent of the entire worth of Grayscale’s virtual holdings in management, Bitcoin and Ethereum are the most significant contributors to that total.
Grayscale’s Collaborations
As per the firm, during a period of growing adoption of digital commodities, the US-based digital investment management formed many collaborations with some of the world’s most prominent corporations in 2021. Grayscale established a partnership with TIME Magazine in April 2021 with the intention of launching a new documentary series on BTC and other virtual assets.
During the disclosure of its latest collaboration with iCapital Network, Grayscale emphasized the increasing popularity of digital currencies. “Because the virtual currency environment is complicated and constantly changing, it may be challenging for consultants and their customers to discern the most acceptable means of accessing this investment vehicle. The Grayscale team is excited to cooperate with iCapital to provide access to an organizational virtual currency investment plan that is distinguished by its accountability as an SEC reporting company,” said Hugh Ross, Chief Operating Officer, in response to the latest partnership.
TIME Magazine & Grayscale Partnership
Bitcoin’s popularity is rising, and TIME Magazine is the most recent organization to enter the trading. Grayscale (the world’s largest crypto asset manager) is collaborating with the business to develop a video series that will focus on Bitcoin and other virtual currencies.
Michael Sonnenshein, the CEO of Grayscale, said that TIME Chairman Keith Grossman has accepted Bitcoin as a method of trade in an official statement. Furthermore, TIME’s financial statement will contain BTC. We’re thrilled to partner with TIME on a new documentary series about cryptocurrencies. Keith Grossman and TIME decided to accept payment in Bitcoin and to hold the cryptocurrency on their balance sheet. Equally critical, Grayscale’s CEO, stated on Twitter, ” This is the first for our media cooperation, we’re working on a lot more material.