Bitcoin
$48,652+1.90%
Ethereum
$3,520.84+0.18%
XRP
$1.09+1.02%
Cardano
$2.41+0.63%
Polkadot
$34.90-0.23%
Stellar
$0.326666+0.05%
Dogecoin
$0.244145-1.17%
Chainlink
$29.22-0.33%
Uniswap
$24.93-1.50%
Polygon
$1.39+2.99%
Litecoin
$183.22-1.24%
Bitcoin Cash
$634.10-0.75%
Algorand
$1.98-0.94%
Wrapped Bitcoin
$48,668.76+2.13%
Cosmos
$36.21+5.37%
Filecoin
$85.48+3.25%
The Graph
$0.843352+1.58%
Tron
$0.107302-5.48%
Ethereum Classic
$57.90+0.62%
Aave
$367.23-0.33%
Tezos
$6.29-1.67%
EOS
$5.27+0.68%
NEO
$49.68-0.20%
Monero
$268.27+2.00%
IOTA
$1.69+11.02%
BitTorrent
$0.003970-0.19%
Bitcoin SV
$158.81+0.06%
Waves
$29.46-0.73%
Maker
$2,881.51+0.67%
Dash
$204.73+1.99%
Decred
$149.48-0.12%
Decentraland
$0.832481+0.56%
ICON
$1.96+2.40%
NEM
$0.185765-0.22%
Zcash
$139.87+2.18%
Qtum
$12.68-0.18%
NuCypher
$0.333053-0.84%
Bitcoin Gold
$67.40+1.40%
Yearn Finance
$34,222.36+0.99%
OmiseGO
$8.69+3.31%
Basic Attention Token
$0.768000+0.65%
0x
$1.11+1.45%
Paxos Standard
$1.00+1.03%
Ren
$1.04+5.58%
Fetch.ai
$0.882246+0.26%
Bancor
$4.16+0.80%
Band Protocol
$9.44+0.64%
Siacoin
$0.019012+3.88%
Kava.io
$6.30-1.52%
Nano
$5.58+1.03%
Loopring
$0.462779+0.62%
Storj
$1.41+1.37%
Numeraire
$49.86+14.17%
Civic
$0.542306-2.15%
Lisk
$3.63+0.94%
Orchid
$0.370474-0.38%
PAX Gold
$1,763.10-0.48%
Augur
$26.49+0.56%
Aragon
$6.06+2.89%
Enzyme
$115.52-0.10%
district0x
$0.180407+1.68%
Kyber Network
$1.85-2.32%
SingularDTV
$0.001500+16.22%
Tether
$1.00-0.01%
USD Coin
$1.00-0.00%
Dai
$1.00+0.03%

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.

Jan 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.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...