The assets under management of the Grayscale Ethereum Trust have exceeded $10 billion or about 3 million Ethers at the current market price, according to the company. Asset management firm Grayscale is one of the largest Ether holders in the market.
Since the publication of its latest report, the value of all crypto assets managed by Grayscale has grown from $41.4 billion to $44.8 billion. Initially the company only allowed its users to invest in Bitcoin, however, users can now invest in altcoins, including DeFi tokens.
Grayscale's portfolio also contains more than $800 million in Ethereum Classic, about $300 million in Litecoins and more than 640,000 Bitcoins valued at about $32 billion. Grayscale is the world's largest cryptocurrency asset manager.
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In early August the company hired former head of index provider Alerian, David LaValle, as head of ETFs. LaValle will work to convert Grayscale Bitcoin Trust and other company funds into ETFs. Grayscale also plans to hire about 10 more specialists to work on its ETFs.