Grayscale Trusts Suffer $3.3 Billion Downturn Following Market Rout

2021-2-25 08:44

The total net assets under management (AUM) of crypto investment firm Grayscale fell back to $38.7 billion on Feb. 24.

In its asset update from Feb. 22, Grayscale had tweeted that its AUM amounted to $42 billion. This makes up a $3.3 billion downturn in trust value in less than a week — nearly an 8% loss.

Grayscale Hit Hard

The value of Grayscale’s largest trust, the Grayscale Bitcoin Trust, fell from $35.2 billion to $32.5 billion, a drop of almost 8%.

Grayscale’s Ethereum Trust dropped from $5.58 billion to $5.14 billion, a loss of around $440 million. After the damage had been done, the firm’s Ethereum Classic Trust was the biggest loser. It saw its holdings per share drop nearly 20%, and its market price per share fall over 25% on Feb. 22.

Bloody Monday

Grayscale’s current losses are representative of many crypto investments over the past few days. According to data from Bybt, $5.64 billion in crypto across 645,278 positions on exchanges were liquidated between Feb. 22 and Feb. 23. The event has come to be known as ‘Bloody Monday.’

Some $2.41 billion worth of BTC was liquidated along with $1.35 billion worth of Ethereum (ETH) as well as nearly $200 million of Litecoin (LTC) and Ripple (XRP) each. Other crypto-assets such as Binance Coin (BNB), Bitcoin Cash (BCH), EOS, Polkadot (DOT), and Cardano (ADA) added up to a total of $663 million in liquidated positions.

Grayscaling Up

Despite these losses, Grayscale is unlikely to be deterred. Recently, it has aggressively picked up almost any crypto assets it could get its hands on. Even since the beginning of the year it has made several prominent acquisitions.

In January, Grayscale accumulated 150% more BTC than was mined across the entire network. On Feb. 4, it bought 12,684 ETH, adding nearly $40 billion to its portfolio, which put its AUM over $30 billion for the first time. It also began dabbling in DeFi, filing trusts for  Aave and Polkadot in January, as well as Yearn, and SushiSwap in February.

The post Grayscale Trusts Suffer $3.3 Billion Downturn Following Market Rout appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

TrustPlus (TRUST) на Currencies.ru

$ 0.00388 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -44.03 %
Cегодня L: $0.00388 - H: $0.00388
Капитализация $135.274k Rank 99999
Доступно / Всего 34.865m TRUST

grayscale billion trust value downturn nearly week

Источник: beincrypto.com

grayscale billion → Результатов: 123


Фото:

Grayscale Records Bumper Q3 With Over $1 Billion Crypto Investments Brought In — So Why Is Bitcoin Stuck In A Rut?

While most firms have been struggling as a result of the pandemic, for Grayscale, Q3 was the best quarter they have ever had. In its quarterly financial report released yesterday, the firm announced that it had attracted more than $1 billion in fresh investment during the third quarter of 2020 across all the cryptocurrency products […]

2020-10-16 01:23


Размер криптовалютных активов под управлением инвесткомпании Барри Силберта снова превысил $1 млрд

Инвестиционная компания Grayscale Investments сообщила, что совокупный объем криптовалютных средств под ее управлением средств снова превысил $1 млрд. Более 90% активов компании при этом находятся в трасте, ориентированном на биткоин.

2019-4-3 10:34


Even During Nuclear Winter, the Largest Crypto Asset Manager Controls Nearly $1 Billion

Cryptocurrencies have continued to stumble, but one organization has been making promising strides in the back offices of the Bitcoin space.  Grayscale Investments, a wholly-owned subsidiary of the crypto conglomerate that is the New York-based Digital Currency Group, revealed that its products secured millions in investment amid the so-called “crypto winter.

2019-2-15 18:11


дальше еще 74 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Grayscale Purchases 3,347 ETH In The Last 24 hours

Ethereum Demand Soars The cryptocurrency fund manager, Grayscale Investments, continues to purchase cryptocurrencies in droves. In the latest one, it scooped up 3,347 Ethereum (ETH) in the past twenty-four hours.

Grayscale AUM Surpasses $30 Billion After Latest ETH Purchase

Grayscale recently added 12,684 ETH in a single day adding up to a total of 83,678 ETH purchased in the past week. At current prices, this equates to nearly $139 million. Grayscale has been relentless in its purchasing following the announcement that it would be reopening its Ethereum Trust (ETHE).

Grayscale Ethereum Trust Reopened to Investors and Traders

This will allow users to buy and sell shares of Grayscale’s publicly traded Ethereum Trust. This avenue provides exposure to the largest decentralized smart contract platform without worrying about storage, security, or regulatory concerns.

Grayscale’s Ethereum Trust Offering ETH at 700% Premium

Grayscale Investments Ethereum Trust is now selling ETH at a premium of 700%, according to the latest data shared by the asset management firm. The increase follows a steady trend of a rising premium, up from 220% in February 2020.