According to a tweet posted on Nov. 1 by Grayscale Investments, the largest crypto asset management company affiliated with billionaire Barry Silbert and his Digital Currency Group conglomerate, the company now manages $55.1 billion in Bitcoin, Ethereum, and other crypto assets.
Grayscale recently purchased large quantities of three popular altcoins—LINK, BAT, and Fil—for its trusts that hold popular altcoins.
11/1/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.Total AUM: $55.1 billion$BTC $BAT $BCH $LINK $MANA $ETH $ETC $FIL $ZEN $LTC $LPT $XLM $ZEC $UNI $AAVE $COMP $CRV $MKR $SUSHI $SNX $YFI $UMA $BNT $ADA $SOL pic.twitter.com/mDJmyd9vhE— Grayscale (@Grayscale) November 1, 2021
Grayscale has added 188,991 BAT tokens in the last seven days, and 179,641 BAT tokens in the last month, according to data provided by the Bybt analytics website. It also bought 1,141 LINK in the last week and 8,823 in the last month. In the case of Fil, the company has added 2,416 of this altcoin to its trust in the last week and 5,121 in the last 30 days.
Grayscale currently has $39.634 billion in Bitcoin, $13.438 billion in Ether, $6 million in BAT, $9.4 million in LINK, and $6.1 million in Filecoin on its balance sheet. Grayscale has also applied to have its Bitcoin Trust converted into a Bitcoin ETF.
Google and SoftBank invest over $700 million in DCG
Barry Silbert’s Digital Currency Group has raised $700 million in an investment round led by SoftBank, with Google’s investment arm, Capital G, and other major funds participating. The funds were raised through the sale of stock.
The DCG currently has no cash flow issues, and Barry Silbert stated that a portion of the funds raised would be used to allow the company to grow further, as well as to allow some early shareholders to lock in their profits.
According to Silbert, the DCG has been profitable since its inception. Furthermore, the company expects to generate a staggering billion dollars in revenue this year.
