The firm said it now oversees $40 billion worth of assets. The vast majority of that is in the $33.1 billion Grayscale Bitcoin Trust and $5.7 billion Grayscale Ethereum Trust. The remaining $1.2 billion is in six alt-coin trusts and the multi-asset Grayscale Digital Large cap Fund.
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Crypto lender BlockFi launches institution-focused Bitcoin trust
The crypto lending firm is taking on Grayscale’s Bitcoin Trust by setting its own feature management fee at 1.75%, lower than the competitor’s 2%
“Given the level of institutional activity in recent months and demand for new, professional-grade investment vehicles, the timing of BlockFi Bitcoin Trust is ideal,” said BlockFi founder and CEO Zac Prince, “As we work to broaden the availability of this vehicle to retail brokerages, we expect this product will facilitate greater investments in digital assets.”
