- Grayscale seems to be playing the right notes in the crypto symphony as it approaches launching its spot Bitcoin ETF after winning a lawsuit against the US Securities and Exchange Commission (SEC).
- It may not be surprising that Grayscale’s Ethereum Trust Fund is among the highest-rated crypto funds in the industry. It is stated that Grayscale’s Ethereum Trust Fund is the second-largest holder of Ethereum in the world.
- Grayscale Litecoin Trust is another large fund with approximately $94.2 million. As the list goes on, these assets only scratch the surface of Grayscale’s portfolio.
Grayscale is not just an investment giant with a Bitcoin fund; it manages millions of dollars in funds in many altcoins, including Ethereum.
How Much ETH Does Grayscale Ethereum Trust Hold?
In its recent report, Arkham Intelligence found that Grayscale has accumulated approximately $5 billion worth of Ethereum. As Grayscale approaches launching its spot Bitcoin ETF after winning a lawsuit against the US Securities and Exchange Commission (SEC), it seems to be playing the right notes in the crypto symphony.
It may not be surprising that Grayscale’s Ethereum Trust Fund is among the highest-rated crypto funds in the industry. It is stated that Grayscale holds $4.7 billion worth of ETH, making it the second-largest holder of Ethereum in the world. The price of Ethereum has slightly decreased since Grayscale’s investment, causing a slight correction in the initial $5 billion investment.
Arkham scanned and analyzed over 500 wallets to identify all activities associated with Grayscale. According to the report, each wallet has a value of less than $30 million. Grayscale also holds approximately $1.7 million worth of LINK tokens and $1.1 million worth of UNI tokens in the Grayscale Chainlink Trust.
According to Arkham’s report, Grayscale’s Bitcoin assets are much smaller, approximately $92.1 million. However, according to Grayscale’s official website, Grayscale Bitcoin Trust, also known as GBTC, manages $16 billion worth of Bitcoin.
Will the Victory Against the SEC Improve Grayscale’s Assets?
Grayscale holds approximately $60 million in Bitcoin Cash Trust and approximately $179 million in Ethereum Classic Trust. Grayscale Litecoin Trust is another large fund with approximately $94.2 million. As the list goes on, these assets only scratch the surface of Grayscale’s portfolio.
Considering Grayscale’s victory against the SEC, it seems likely that this asset management firm will start accumulating more Bitcoin and other cryptocurrencies in its assets.
SEC still has 40 days to appeal the loss against Grayscale in the Washington D.C. court or go to the Supreme Court. However, speculation is only made about how major asset management firms will strategize their ETF applications until the SEC takes any action.
