Grayscale Investments, a subsidiary of Digital Currency Group (DCG), now has control over $60bn in assets in a milestone moment for the company.
Grayscale overtook leading gold fund SPDR Gold Shares (GLD) in AUM, controlling $1.7bn more than the gold fund.
DCG founder and CEO Barry Silbert shared the monumental news illustrating some of the assets the firm controls.
Grayscale’s assets under management has topped $60 billion https://t.co/HvMnrpAFgd
— Barry Silbert (@BarrySilbert) November 10, 2021
With Grayscale adding Solana and UniSwap to its premier fund, the firm now maintains the funds of 15 assets with 97% concentrated in both the Bitcoin Trust (GBTC) at 72% and the Ethereum Trust (ETHE) at 25%.
Bitcoin spot ETF
“These markets, largely around the world, 24 hours a day, seven days a week, don’t have the similar protections against fraud and manipulation and front running and other abuses,” he said.
“In the last week, we actually saw bipartisan support for a Bitcoin spot ETF, with Reps Emmer and Soto submitting a letter to chairman Gensler actually calling for the approval of a Bitcoin spot ETF and really wanting to ensure there’s a level playing field for investors as they choose between what could be a futures-based product for them or a spot-based product for them,” he said.
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