Grayscale, the world’s largest digital asset management firm, saw a sharp increase in the overall value of its cryptocurrency assets under management (AUM) after the latest rally in Bitcoin (BTC) and Ethereum (ETH). In an official update, the digital asset management firm revealed that the company holds more than $31 billion worth of Bitcoin. Overall, the total value of Grayscale’s digital assets under management currently stands at around $43 billion.
Grayscale also holds nearly $10 billion worth of Ethereum.
Along with Bitcoin, Grayscale also holds nearly $10 billion worth of Ethereum. The digital asset management company’s Ethereum Trust has more than 3 million ETH. Grayscale’s Ethereum Classic Trust is its third-most valuable trust with more than $700 million worth of ETC. The institutional accumulation of Bitcoin and other cryptocurrency assets has jumped substantially in the last 12 months. According to the latest data from Buy Bitcoin Worldwide, BTC fund issuers and global crypto asset management firms now hold more than 800,000 BTC worth nearly $40 billion.
Several public-listed companies also increased the accumulation of bitcoin in the last year.
In addition to the latest jump in Bitcoin holdings of crypto asset management firms, several public-listed companies also increased the accumulation of the world’s largest cryptocurrency in the last 12 months. According to the recent numbers, 34 public companies are currently holding Bitcoin on their balance sheets. MicroStrategy, the world’s largest business intelligence firm, now holds 108,992 BTC worth more than $5.2 billion. As reported earlier this year, Tesla and Meitu added Bitcoin to their balance sheets. In February 2021, Square, a leading American financial services and payments firm, purchased nearly $170 million worth of BTC. Bitcoin and other cryptocurrencies gained a lot of mainstream exposure this year and attracted institutional investors.