The Grayscale Bitcoin Trust is described as a digital currency investment product that every investor can own within their brokerage accounts. American digital asset management fund Grayscale, the manager of the Trust, has continued to grow. The total assets under its management reached $3.8 billion.
The major digital asset management fund has registered continuous growth in 2021 with its total assets under management, or AUM, reaching new highs. Grayscale’s total AUM hit $3.8 billion, according to a May 19 tweet. That represented an increase of around 80% from the $2.1 billion in May 2019.
Grayscale Bitcoin Trust Gains Momentum
In recent years, Grayscale’s Bitcoin (BTC) trust has continued to lead other cryptos in the fund, accounting for $3.36 billion, or 89% of the firm’s total AUM. Grayscale’s Bitcoin investment trust’s value increased by 76% from 2019’s $1.9 billion. Simultaneously, Grayscale’s Bitcoin Trust’s share experienced a small drop, dropping from 94% in May 2019.
The considerable value spike of Grayscale’s Bitcoin Trust comes as Bitcoin price gains significantly year-on-year. At the moment, Bitcoin trades at $9,745, an increase of 30% from $7,600 one year ago.
Grayscale Ethereum (ETH) Trust ranks as the second-largest Trust based on the data. It is second among the total ten trusts in the fund. Grayscale ETH trust accounts for $289 million, followed by the Grayscale Ethereum Classic (ETC) Trust that holds $73 million.
Grayscale is a major global crypto investment fund that was created by Digital Currency Group in 2013. It is well-regulated by global authorities like the Securities Exchange Commission and the United States Financial Industry Regulatory Authority. Grayscale allegedly became the first digital asset trust that became a Securities and Exchange Commission (SEC) reporting account on January 21, 2021.
Last month, Grayscale reported that the firm was managing almost 1.7% of all of Bitcoin’s supply in its Grayscale Bitcoin Trust. At that time, the firm also stated that it saw the largest quarter ever despite the economic crisis fueled by the COVID-19 pandemic.