By CCN: In the past month, within a 30-day span, the bitcoin price has surged 60 percent against the U.S. dollar to about $8,500 as the valuation of the crypto market rose by $100 billion.
Major crypto assets such as ethereum, litecoin, and EOS have seen gains above 100 percent year-to-date, with Binance Coin, the seventh most valuable crypto asset in the global market, recording a staggering 437 percent gain against the USD.
Grayscale’s GBTC trading at 37% premium
As the bitcoin price surged, the assets under management of Grayscale, an investment firm overseen by Digital Currency Group, arguably the most influential venture capital firm in the sector with companies like Coinbase, BitFlyer, Blockchain, Circle, Kraken, Xapo, and Zcash, has surpassed the $2 billion mark.
5/28/19 UPDATE: Holdings per share and net assets under management for our investment products
— Grayscale (@GrayscaleInvest) May 28, 2019
In April, Barry Silbert, the CEO of Digital Currency Group, revealed Grayscale’s assets under management hit $1 billion.
In less than two months since achieving $1 billion in AUM, primarily due to the noticeable increase in institutional demand and interest from retail investors, the investment firm has achieved $2 billion in short succession.
Grayscale operates some of the most widely utilized crypto asset investment vehicles used by accredited and institutional investors to invest in the crypto market in a strictly regulated and transparent environment.
Bitcoin Investment Trust (GBTC), Grayscale’s flagship investment vehicle that enables investors to buy or sell bitcoin through a stock exchange, has shown a premium of around 37 percent in the past several days.
Each share of GBTC represents 0.00098247 bitcoin and a share is valued at $11.44. On major exchanges like Coinbase and Bitstamp, 0.00098247 is…