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Bitcoin Bull Run Pushes Grayscales AUM to Over $27 Billion

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.

Bitcoin Price Surge Sends Grayscale to the Moon 

Indeed, this season’s 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.

In the latest development, Michael Sonnenshein, the CEO of Grayscale, a  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.

He tweeted:


As reported  last 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.

 The Numbers 

In Q4 2020, when the current crypto markets bull run was just beginning to gain momentum, Grayscale’s 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.

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.

Commenting of Grayscale’s impressive achievement, Eric Balchunas, Bloomberg’s senior ETF analyst compared the firm’s performance to that of ARK Innovation ETF, the best performing growth fund in the traditional investment world last year.

In his words:

“The 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,” he said.

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.


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Crypto Stats

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin47,753 0.23 % 0.68 % 14.79 %
Ethereum1,499.6 0.40 % 0.24 % 23.88 %
Cardano1.270 2.14 % 17.70 % 35.87 %
Binance Coin228.69 0.11 % 0.50 % 32.35 %
Tether1.000 0.13 % 0.20 % 0.44 %
Polkadot33.20 0.50 % 8.47 % 5.20 %
XRP0.4416 0.33 % 0.68 % 22.60 %
Litecoin177.75 0.13 % 0.05 % 25.35 %
Chainlink25.75 0.15 % 2.18 % 26.22 %
Bitcoin Cash494.66 0.22 % 0.51 % 31.74 %