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
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.