Investment company Grayscale gained over $1 billion in assets under management within a week. On the 22nd of October, Grayscale revealed that the investment firm holds a total of $7.3 billion in assets under management. This is an addition of $1 billion to its previous figures as of the 15th of October.
Notably, InsideBitcoins added that the report had a 24-hour delay, which signifies that the figures represent the record of the day before.
The report also showed that Grayscale’s Trust for Litecoin surged the most since the last report. Since the previous report on the 15th of October, its Litecoin trust grew more than 7.5%. At the same time, the investment firm’s Zcash Trust has gained 6% after the last report.
Also, Grayscale has assets under management in other coins, including Horizon (ZEN). Others are XRP, Stellar Lumens (XLM), Ethereum Classic (ETC), and Bitcoin Cash (BCH).
Furthermore, the report said that the recent addition to Grayscale’s assets under management could be tied to the cryptocurrency market’s ongoing increase. The crypto space has been recording increases and gains in reaction to PayPal’s integration into the crypto sector.
On the 21st of October, PayPal announced its new crypto payment service. Upon its launch in 2021, the new crypto service will allow PayPal users to buy and sell digital assets on the platform. Also, users will be able to shop on the platform, paying with cryptocurrency.
Image Credits: Pixabay
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