Grayscale Investments total AUM declines to $2.5 billion as Bitcoin continued to spiral low

  • 03 July 2019, Wednesday, 02:30

Bitcoin’s latest market crash post 26th June has led to a subsequent decline in not only altcoins’ valuation but also, its market dominance. Just a week after Grayscale Investment’s assets under management [AUM] reported a record-breaking high of total AUM of $3.0 billion, the firm behind #dropgold campaign, updated a decline in the total AUM which stood at $2.5 billion according to the official market data.

Grayscale’s official tweet read,

7/1/19 UPDATE: Holdings per share, net assets under management and digital assets per share for our investment products.

Total AUM: $2.5 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/NthXNjhT14

— Grayscale (@GrayscaleInvest) July 1, 2019

Grayscale Bitcoin Trust under the Single Asset Products recorded a Holdings per share $10.42 after declining by 6.38%. The AUM for the Bitcoin Trust accounted for $2.398 billion with 0.0010 BTC Holdings per share. Following Bitcoin’s trend, Grayscale products for the altcoins have also depreciated.

Grayscale Bitcoin Cash Trust recorded an AUM of $6.3 million after a decline of 3.23% and the Grayscale Ethereum Trust registered an AUM of $28.6 million after falling by 3.23% in terms of day change. Following the suit were Grayscale’s Ethereum Classic Trust with an AUM $41.8 billion after a slump of 2.51% and Litecoin Trust with an AUM of $0.8 million.

The declining trend was observed due to the slump in Bitcoin’s price that started on June 26. Bitcoin has fallen by more than 27% since that point after it tested the 0.618 Fib level.

Source: ambcrypto.com