- Grayscale appears to be playing the right notes in the crypto symphony as it gets closer to launching a spot Bitcoin
ETF after winning a lawsuit against the U.S. Securities and Exchange Commission (SEC). - This may not come as a surprise, given that Grayscale’s Ethereum Trust Fund is among the highest-rated crypto funds in the industry. It’s said that Grayscale’s Ethereum Trust Fund is the second-largest holder of Ethereum in the world.
- Grayscale Litecoin Trust is another significant fund, with approximately $94.2 million in assets. 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; Millions of dollars of funds are managed in many altcoins, including Ethereum.
How Much ETH Does the Grayscale Ethereum Trust Hold?
Arkham Intelligence found in its latest report that Grayscale has accumulated approximately $5 billion worth of Ethereum. Grayscale seems to be hitting the right notes in the crypto symphony as it gets closer to launching a spot Bitcoin ETF after winning a lawsuit against the U.S. Securities and Exchange Commission (SEC).
This might not come as a surprise, given that Grayscale’s Ethereum Trust Fund is among the highest-rated crypto funds in the industry. It’s stated that Grayscale holds $4.7 billion worth of ETH, making the Ethereum Trust Fund the second-largest holder of Ethereum in the world. The price of Ethereum has dipped slightly since Grayscale’s investment, resulting in a minor correction from 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 SEC Victory 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 significant fund, with approximately $94.2 million in assets. 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.
There are still 40 days left for the SEC to appeal its loss against Grayscale in the Washington D.C. court or take it to the Supreme Court. However, until the SEC takes any action, speculation remains about how major asset management firms will strategize their ETF applications.
