{"id":108758,"date":"2021-01-18T18:47:29","date_gmt":"2021-01-18T18:47:29","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108758"},"modified":"2021-01-18T18:47:29","modified_gmt":"2021-01-18T18:47:29","slug":"bitcoin-bull-run-pushes-grayscales-aum-to-over-27-billion","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/bitcoin-bull-run-pushes-grayscales-aum-to-over-27-billion\/","title":{"rendered":"Bitcoin Bull Run Pushes Grayscales AUM to Over $27 Billion"},"content":{"rendered":"

Grayscale CEO, Michael Sonnenshein has taken to Twitter to reveal that the firm raised a massive $700 million on January 15, 2021, a feat that has never been reached previously in a single day by the company. The asset management firm now has $27.1 billion in assets under management, from just an AUM of under $2 billion at the beginning of last year.<\/strong><\/p>\n

Bitcoin Price Surge Sends Grayscale to the Moon\u00a0<\/strong><\/h2>\n

Indeed, this season\u2019s bull run is one like no other, as it is being fueled by institutional investors like MicroStrategy, Grayscale, and a host of others, who now appear to be reaping bounty harvests from their investments.\u00a0<\/span><\/p>\n

In the latest development, Michael Sonnenshein, the CEO of Grayscale, a\u00a0 New York-based digital currency investment and cryptocurrency asset management company, has revealed that the company for the first time in its history, successfully raised $700 million on January 15, 2021, from its crypto investments, a milestone it has never achieved previously in a single trading day.\u00a0<\/span><\/p>\n

He <\/span>tweeted<\/span>:<\/span><\/p>\n

As <\/span>reported<\/span> by <\/span>BTCManager, <\/span><\/i>\u00a0last December, Grayscale increased its ether holding by a massive $215 million, taking the total value of its Ethereum Trusts (ETHE) shares to $1.6 billion at the time.<\/span><\/p>\n

\u00a0The Numbers\u00a0<\/strong><\/h2>\n

In Q4 2020, when the current crypto markets bull run was just beginning to gain momentum, Grayscale\u2019s crypto investment vehicles reportedly generated $3.3 billion for the 8-year-old company, with its Bitcoin Trust leading the pack with an average of $217 million weekly increase.<\/span><\/p>\n

With its latest increase, Grayscale now has a total of $27.1 billion under management, from just $2 billion at the beginning of last year.<\/span><\/p>\n

Commenting of Grayscale\u2019s impressive achievement, Eric Balchunas, Bloomberg\u2019s senior ETF analyst compared the firm\u2019s performance to that of ARK Innovation ETF, the best performing growth fund in the traditional investment world last year.<\/span><\/p>\n

In his words:<\/span><\/p>\n

\n

\u201cThe similarities are pretty amazing. I think both hung in relative oblivion for 3-4 years, had like $2b 12 months ago and then boom, 10x increase. Both defy trends: ARK w stock picking up and grayscale with very high fees and 20% + premiums,\u201d he said.<\/strong><\/p>\n<\/blockquote>\n

At press time, the global market capitalization of the entire cryptocurrency market sits at a massive $1.2 trillion, with the bitcoin price trading at $36,297, as seen on CoinMarketCap.<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Grayscale CEO, Michael Sonnenshein has taken to<\/p>\n","protected":false},"author":3,"featured_media":108757,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"yoast_head":"\nBitcoin Bull Run Pushes Grayscales AUM to Over $27 Billion - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/altcoins\/bitcoin-bull-run-pushes-grayscales-aum-to-over-27-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Bull Run Pushes Grayscales AUM to Over $27 Billion - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Grayscale CEO, Michael Sonnenshein has taken to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/altcoins\/bitcoin-bull-run-pushes-grayscales-aum-to-over-27-billion\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-18T18:47:29+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafotoGreater-Clarity-Needed-to-Turn-the-Cryptocurrency-Market-into-A-Bullish-One-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/altcoins\/bitcoin-bull-run-pushes-grayscales-aum-to-over-27-billion\/\",\"url\":\"https:\/\/precoinnews.com\/altcoins\/bitcoin-bull-run-pushes-grayscales-aum-to-over-27-billion\/\",\"name\":\"Bitcoin Bull Run Pushes Grayscales AUM to Over $27 Billion - 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