BitGo And Grayscale Increase Crypto Assets Under Custody To $16 Billion Each

Bitcoin assets held and managed at BitGo and Grayscale continue to grow amid a surge in institutional investor interest in the crypto industry.

BitGo, a digital asset company, currently holds $16 billion worth of cryptocurrencies. The same value of cryptocurrencies is now managed by Grayscale, which invests cryptoassets in public trusts.

“We’re seeing unprecedented interest from institutional investors as a result of the pandemic’s economic impact, as well as Bitcoin’s extraordinary performance,” said CEO of BitGo Mike Belshe.

Grayscale Investment Holdings now manages $16 billion in assets, according to bybt.com, which tracks Grayscale assets.

Grayscale Investment Trust owns a total of almost 550,000 bitcoins with a total value of $ 13.91 billion, which is about 70% of the total BTC held by publicly traded companies, Decrypto reports citing Bitcoin Treasuries.

On December 16, the bitcoin exchange rate exceeded $20,000, thereby breaking its previous record reached in December 2017. The growth of the rate did not stop, and soon the first cryptocurrency updated its all-time high, reaching $24,000.

Via: 2Coinfox.info

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