Grayscale Raises $700M+ in a Day, Its Largest Daily Asset Raise Ever

In Q4 2020, the company raised $3.3 billion across its cryptocurrency investment vehicles.

AccessTimeIconJan 17, 2021 at 8:11 p.m. UTC
Updated Sep 14, 2021 at 10:57 a.m. UTC

Michael Sonnenshein, CEO of digital asset manager Grayscale Investments, tweeted the firm raised more than $700 million on Jan. 15, seeing increased momentum from Q4.

  • In Q4 2020, the company raised $3.3 billion across its cryptocurrency investment vehicles, a record for the digital asset manager and further evidence of this rally’s institutional base.
  • The Grayscale Bitcoin Trust, which is the company's most popular product, led the pack in Q4 with an average of $217 million raised every week.
  • The latest data from Grayscale shows on Jan. 15 the firm has a record $27.1 billion under management; it entered 2020 with just $2 billion.
  • In a tweet, Eric Balchunas, senior ETF analyst at Bloomberg, called Grayscale the "ARK" of crypto.
  • "The similarities are pretty amazing. I think both hung in relative oblivion for 3-4 yrs, had like $2b 12mo ago ago and then boom, 10x increase. Both defy trends: ARK w stock picking and grayscale w very high fees and 20%+ premiums,” Balchunas tweeted.
  • ARK refers to ARK Investment Management, an asset-management firm led by Cathie Wood, and its flagship ARK Innovation ETF (ARKK), which over the course of a year has returned more than 171%, seeing its assets under management grow by more than tenfold, to $21.8 billion.
  • New York-based, SEC-regulated Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.


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