$60 Billion Grayscale Total AUM Now Worth More Than World’s Largest Gold Fund

Grayscale is leading the way as the world’s largest digital currency asset manager. The company’s total Assets Under Management (AUM) have reached US$60.8 billion, surpassing $58.3 billion AUM of SDPR Gold Shares, the world’s largest gold exchange-traded fund (ETF).

Grayscale, which operates the world’s largest Bitcoin and Ethereum investment funds, was the first financial institution to bring a digital currency investment product to the public market. The Grayscale Bitcoin Trust (GBTC) holds US$43.6 billion AUM, and the Grayscale Ethereum Trust holds US$14.9 billion AUM, according to the firm’s November 10 update.

Grayscale has long been working towards getting a Bitcoin spot ETF approved but continues to be rejected by the Securities Exchange Commission, despite its approval for a Bitcoin futures ETF. Regardless of a Bitcoin spot ETF, Grayscale has managed to flippen gold.

All That No Longer Glisters

Grayscale’s leadership towards investing in Bitcoin has paid off. The company dedicated a marketing campaign, #dropgold, aimed at attracting traditional investors away from gold towards the new gold of the future: the world’s largest digital asset, Bitcoin. “Go Digital, Go Grayscale”, says the dropgold website. “It’s not that gold is bad. It’s just that bitcoin is better.”