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The crypto market is expanding rapidly and recently reached US$ 3 trillion in market value for the first time in history. In the wake of this growth, fund managers such as Grayscale have hit fundraising records and volumes under custody.

Considered one of the largest cryptoasset fund managers in the world, Grayscale reached a milestone this past Wednesday by surpassing more than US$ 60 billion in assets under management.

The sum of all assets held in custody by Grayscale has surpassed the total asset capitalization of the world’s largest gold ETF, PDR Gold Shares, with US$ 58.3 billion under management.

According to DeCrypt’s survey, the majority of Grayscale’s assets correspond to the Grayscale Bitcoin Trust (GBTC), with US$ 43.6 billion.

In addition to bitcoin, Grayscale has assets with exposure to ether (ETH), totaling US$ 14.9 billion. Furthermore, other cryptoassets are also part of the manager’s products, such as chainlink (LINK), bitcoin cash (BCH), basic attention token (BAT), decentraland (MANA), litecoin (LTC), and others.

Although Grayscale does not yet offer cryptoasset ETFs, the company is trying to convert the GBTC fund into a bitcoin spot ETF.

In October 2021, Grayscale requested approval of an ETF based on the spot price of bitcoin. U.S. regulators have rejected all requests for bitcoin ETFs so far, although it has recently approved Bitcoin futures ETFs, which have hit record trading volumes.