Grayscale
Grayscale Investments is one of the most active and influential digital currency investment institutions in the world. It operates through compliant fund structures to serve institutional investors and high-net-worth qualified investors. At present, Grayscale has issued 35 cryptocurrency funds, including 10 ETFs (GBTC, ETHF, and GDLC have been converted from trusts to ETFs), 13 public funds, and 12 private funds. It supports 31 single-asset funds and 4 diversified funds containing mainstream cryptocurrencies. Investors can subscribe using crypto or fiat currency. Grayscale charges management fees and issues equivalent trust/fund shares to investors. Shares have a fixed lock-up period, after which they can be traded on the secondary market (OTCMarkets).
As of Mar 27, 2026, data shows that the total Assets Under Management of Grayscale are $18.21B, including $17.68B in ETFs, $493.84M in public funds, and $30.69M in private funds. GBTC holdings are $10.21B, accounting for 56.09% of the total, and GETH holdings are $1.70B, accounting for 9.31%.
Grayscale ETF & Trust Fund Products
| Product Name | AUM | Holding Coins | Holding Per Share 1D/1Mon | Market Price 1D/1Mon | Premium | Last Update |
|---|
GBTC Grayscale Bitcoin Trust ETF | $10.21B | 154.73K BTC | $51.40 -3.60%-21.83% | $51.37 -3.69%-28.00% | -0.06% | Mar 27, 2026 |
BTC Grayscale Bitcoin Mini Trust ETF | $3.41B | 51.67K BTC | $29.20 -3.60%-21.76% | $29.19 -3.70%-27.76% | -0.03% | Mar 27, 2026 |
ETH Grayscale Ethereum Mini Trust ETF | $1.72B | 865.55K ETH | $18.86 -2.78%-28.15% | $18.85 -2.84%-36.43% | -0.05% | Mar 27, 2026 |
ETHE Grayscale Ethereum Trust ETF | $1.70B | 851.98K ETH | $16.20 -2.76%-28.27% | $16.18 -2.88%-36.81% | -0.12% | Mar 27, 2026 |
GDLC Grayscale CoinDesk Crypto 5 ETF | $368.53M | Diversified | $30.26 -3.38%-23.30% | $30.28 -3.51%-30.55% | 0.07% | Mar 27, 2026 |
BCHG Grayscale Bitcoin Cash Trust | $179.41M | 385.10K BCH | $3.81 1.33%-16.15% | $3.35 1.52%-22.80% | -12.07% | Mar 27, 2026 |
LTCN Grayscale Litecoin Trust | $106.39M | 1.98M LTC | $4.39 -0.90%-16.73% | $4.03 -1.71%-38.93% | -8.20% | Mar 27, 2026 |
GSOL Grayscale Solana Trust ETF | $105.24M | 1.27M SOL | $6.15 -3.15%-29.97% | $6.15 -3.00%-39.78% | <0.01% | Mar 27, 2026 |
ETCG Grayscale Ethereum Classic Trust | $88.38M | 10.92M ETC | $6.32 -0.94%-18.48% | $4.36 -1.58%-38.89% | -31.01% | Mar 27, 2026 |
ZCSH Grayscale Zcash Trust | $84.47M | 391.21K ZEC | $17.49 -2.18%-35.49% | $16.80 -6.67%-56.02% | -3.95% | Mar 27, 2026 |
GLNK Grayscale Chainlink Trust | $70.81M | 8.29M LINK | $7.58 -3.32%-18.91% | $7.57 -3.44%-% | -0.13% | Mar 27, 2026 |
GXRP Grayscale XRP Trust | $62.94M | 47.52M XRP | $25.69 -1.42%-22.08% | $25.69 -1.31%-37.87% | <0.01% | Mar 27, 2026 |
GSUI Grayscale Sui Trust | $26.12M | 29.90M SUI | $12.62 -4.54%-29.22% | $12.63 -4.54%-% | 0.08% | Mar 27, 2026 |
GXLM Grayscale Stellar Lumens Trust | $19.58M | 116.48M XLM | $14.00 -2.17%-18.01% | $17.96 -4.92%-35.34% | 28.29% | Mar 27, 2026 |
GTAO Grayscale Bittensor Trust | $11.92M | 36.76K TAO | $6.20 -4.91%-18.34% | $7.56 -8.70%-% | 21.94% | Mar 27, 2026 |
GDOG Grayscale Dogecoin Trust | $6.61M | 73.43M DOGE | $10.58 -1.12%-19.35% | $10.59 -1.12%-37.47% | 0.09% | Mar 27, 2026 |
HZEN Grayscale Horizen Trust | $4.91M | 943.83K ZEN | $0.4300 -4.44%-32.84% | $0.6300 <0.01%-45.45% | 46.51% | Mar 27, 2026 |
-- Grayscale Story Trust | $3.82M | 6.75M IP | $1.67 -6.70%-46.50% | $- -%-% | -% | Mar 27, 2026 |
-- Grayscale DeepBook Trust | $3.51M | 138.74M DEEP | $1.49 -6.88%-24.23% | $- -%-% | -% | Mar 27, 2026 |
-- Grayscale Space and Time Trust | $3.38M | 200.13M SXT | $1.64 3.14%-32.54% | $- -%-% | -% | Mar 27, 2026 |
-- Grayscale Walrus Trust | $2.88M | 41.39M WAL | $1.37 -8.67%-29.05% | $- -%-% | -% | Mar 27, 2026 |
GBAT Grayscale Basic Attention Token Trust | $2.38M | 25.08M BAT | $0.8400 -5.62%-28.24% | $0.5300 -5.36%-66.20% | -36.90% | Mar 27, 2026 |
MANA Grayscale Decentraland Trust | $2.35M | 28.98M MANA | $0.7100 -4.05%-23.42% | $0.7500 2.74%-51.95% | 5.63% | Mar 27, 2026 |
FILG Grayscale Filecoin Trust | $1.94M | 2.32M FIL | $0.7400 -2.63%-16.35% | $1.46 -3.31%-57.81% | 97.30% | Mar 27, 2026 |
-- Grayscale Pyth Trust | $1.93M | 51.20M PYTH | $1.83 -2.14%-16.84% | $- -%-% | -% | Mar 27, 2026 |
-- Grayscale Smart Contract Fund | $1.84M | Diversified | $5.93 -3.10%-24.31% | $- -%-% | -% | Mar 27, 2026 |
DEFG Grayscale Decentralized Finance (DeFi) Fund | $1.65M | Diversified | $6.91 -2.68%-17.42% | $7.06 -6.86%-48.19% | 2.17% | Mar 27, 2026 |
GLIV Grayscale Livepeer Trust | $1.26M | 603.01K LPT | $1.84 -1.60%-20.93% | $1.86 -7.00%-56.64% | 1.09% | Mar 27, 2026 |
-- Grayscale Aave Trust | $734.87K | 7.50K AAVE | $9.45 -6.25%-18.89% | $- -%-% | -% | Mar 27, 2026 |
GSNR Grayscale Near Trust | $716.67K | 607.76K NEAR | $1.69 -2.31%-17.89% | $2.00 3.63%-61.77% | 18.34% | Mar 27, 2026 |
-- Grayscale Decentralized AI Fund | $536.64K | Diversified | $2.19 -3.95%-20.09% | $- -%-% | -% | Mar 27, 2026 |
STCK Grayscale Stacks Trust | $415.49K | 1.85M STX | $1.07 -3.60%-9.49% | $1.93 <0.01%-7.14% | 80.37% | Mar 27, 2026 |
-- Grayscale Lido DAO Trust | $89.67K | 262.97K LDO | $1.65 -2.37%-18.28% | $- -%-% | -% | Feb 17, 2026 |
-- Grayscale Optimism Trust | $47.55K | 254.34K OP | $0.9100 -1.09%-0.78% | $- -%-% | -% | Feb 17, 2026 |
GAVA Grayscale Avalanche Trust | $0.00 | 596.31K AVAX | $21.06 -2.81%-83.58% | $21.05 522153200.00%-% | -0.05% | Mar 27, 2026 |
Total Assets Under Management of Grayscale Holdings
ALL
Note: GBTC was converted to an ETF on 2024-01-11, ETHE on 2024-07-23, GDLC on 2025-09-19, and GSOL on 2025-10-29.
Historical Premium Of Grayscale Trust Funding
What is Grayscale?
Grayscale was founded in 2013 and is one of the largest and most institutionally adopted digital asset management companies globally. It operates regulated funds, providing institutional and high-net-worth investors with a safe, transparent, and compliant way to invest in digital assets.
What digital asset investment products does Grayscale offer?
Grayscale's products mainly include:
1. Single-Asset Trusts, such as BTC, ETH, SOL, LINK, FIL, BAT, providing exposure to a single cryptocurrency.
2. Diversified Funds, which consist of multiple cryptocurrencies in a single portfolio, offering investors diversified exposure.
What are the stages and types of Grayscale fund products?
Grayscale funds generally go through the following stages:
1. Private Placement: Available to accredited investors with a typical one-year lock-up period.
2. Public Quotation: Private shares can be traded on secondary markets once unlocked.
3. SEC Reporting: Funds submit reports to the U.S. SEC, enhancing transparency and regulatory oversight.
4. ETF Stage: If allowed by regulations, funds may list on stock exchanges and enable creation/redemption of shares.
Does Grayscale actually hold the cryptocurrencies?
Yes. For spot trusts, Grayscale holds the cryptocurrencies corresponding to the fund shares, which are securely custodied by regulated third parties (e.g., Coinbase Custody). Each fund operates independently, separate from Grayscale's own assets, and some products undergo audits and SEC reporting.
Why do publicly quoted Grayscale products have a premium or discount?
Publicly quoted products cannot be redeemed directly, so supply and demand in the secondary market may cause the trading price to be above (premium) or below (discount) the net asset value of the underlying assets (after fees).
Why does the premium or discount tend to zero after a Grayscale fund converts to an ETF?
ETFs have daily creation and redemption mechanisms. Arbitrageurs can adjust market prices by creating or redeeming shares, keeping the ETF price close to net asset value, and quickly eliminating premiums or discounts.
How is a Grayscale product different from directly buying cryptocurrencies?
Grayscale provides indirect access to cryptocurrencies. Investors do not need to manage wallets or private keys, suitable for traditional or institutional investors. Directly buying cryptocurrencies requires managing the assets and keys but avoids management fees.
What is the Assets Under Management (AUM) of Grayscale funds?
AUM refers to the total value of all digital assets currently managed by Grayscale funds. It is calculated as: AUM = quantity of crypto held by each trust × current market price − fund fees. AUM reflects the scale, liquidity, and market influence of the fund.