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 9 ETFs (GBTC, ETHF, and GDLC have been converted from trusts to ETFs), 13 public funds, and 13 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 Jan 16, 2026, data shows that the total Assets Under Management of Grayscale are $27.73B, including $26.92B in ETFs, $739.52M in public funds, and $69.87M in private funds. GBTC holdings are $15.62B, accounting for 56.32% of the total, and GETH holdings are $2.98B, accounting for 10.74%.
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 | $15.62B | 163.47K BTC | $74.59 0.34%-4.15% | $74.58 0.34%-23.85% | -0.01% | Jan 16, 2026 |
BTC Grayscale Bitcoin Mini Trust ETF | $4.63B | 48.49K BTC | $42.27 0.36%-4.06% | $42.28 0.31%-23.50% | 0.02% | Jan 16, 2026 |
ETHE Grayscale Ethereum Trust ETF | $2.98B | 904.51K ETH | $26.90 0.15%-2.87% | $26.92 0.22%-28.89% | 0.07% | Jan 16, 2026 |
ETH Grayscale Ethereum Mini Trust ETF | $2.52B | 766.27K ETH | $31.10 0.16%-2.67% | $31.12 0.19%-28.38% | 0.06% | Jan 16, 2026 |
GDLC Grayscale CoinDesk Crypto 5 ETF | $576.95M | Diversified | $45.40 0.38%-4.88% | $45.43 0.51%-26.08% | 0.07% | Jan 16, 2026 |
GXRP Grayscale XRP Trust | $293.93M | 141.44M XRP | $40.32 0.83%-16.53% | $40.29 0.55%-% | -0.07% | Jan 16, 2026 |
BCHG Grayscale Bitcoin Cash Trust | $231.99M | 386.95K BCH | $4.92 3.14%8.61% | $4.29 2.39%-2.92% | -12.80% | Jan 16, 2026 |
GSOL Grayscale Solana Trust ETF | $202.82M | 1.40M SOL | $10.66 2.60%-9.54% | $10.66 2.50%-% | <0.01% | Jan 16, 2026 |
ZCSH Grayscale Zcash Trust | $162.88M | 393.09K ZEC | $33.73 1.60%9.61% | $28.30 -1.12%395.12% | -16.10% | Jan 16, 2026 |
LTCN Grayscale Litecoin Trust | $148.48M | 1.99M LTC | $6.12 3.90%-9.74% | $5.85 3.36%-33.56% | -4.41% | Jan 16, 2026 |
ETCG Grayscale Ethereum Classic Trust | $138.73M | 10.97M ETC | $9.91 1.33%-16.81% | $7.17 0.99%-31.32% | -27.65% | Jan 16, 2026 |
GLNK Grayscale Chainlink Trust | $87.68M | 6.40M LINK | $12.16 0.75%-7.33% | $12.18 0.66%-% | 0.16% | Jan 16, 2026 |
GXLM Grayscale Stellar Lumens Trust | $26.33M | 116.28M XLM | $18.95 0.53%-21.83% | $22.20 0.63%-43.75% | 17.15% | Jan 16, 2026 |
-- Grayscale Story Trust | $18.52M | 6.78M IP | $8.10 -0.37%-34.67% | $- -%-% | -% | Jan 16, 2026 |
HZEN Grayscale Horizen Trust | $12.16M | 948.37K ZEN | $1.06 3.92%-19.15% | $1.50 2.04%5.06% | 41.51% | Jan 16, 2026 |
GTAO Grayscale Bittensor Trust | $10.23M | 36.66K TAO | $5.36 0.56%-27.27% | $9.23 -16.09%-% | 72.20% | Jan 16, 2026 |
GDOG Grayscale Dogecoin Trust | $8.68M | 62.87M DOGE | $16.23 -0.79%-22.52% | $16.22 -0.98%-% | -0.06% | Jan 16, 2026 |
-- Grayscale Avalanche Trust | $7.80M | 574.38K AVAX | $6.55 -0.76%-17.34% | $- -%-% | -% | Jan 16, 2026 |
-- Grayscale DeepBook Trust | $6.97M | 139.41M DEEP | $2.96 -1.33%-23.60% | $- -%-% | -% | Jan 16, 2026 |
-- Grayscale Walrus Trust | $6.62M | 41.59M WAL | $3.14 8.28%-26.42% | $- -%-% | -% | Jan 16, 2026 |
-- Grayscale Space and Time Trust | $5.65M | 201.09M SXT | $2.75 0.73%-38.63% | $- -%-% | -% | Jan 16, 2026 |
GSUI Grayscale Sui Trust | $5.49M | 3.08M SUI | $25.77 0.19%-8.96% | $26.25 -3.88%-% | 1.86% | Jan 16, 2026 |
GBAT Grayscale Basic Attention Token Trust | $4.96M | 25.20M BAT | $1.74 3.57%-26.51% | $1.50 -6.25%17.78% | -13.79% | Jan 16, 2026 |
MANA Grayscale Decentraland Trust | $4.17M | 29.12M MANA | $1.27 <0.01%-28.19% | $1.21 -4.72%-54.78% | -4.72% | Jan 16, 2026 |
FILG Grayscale Filecoin Trust | $3.43M | 2.28M FIL | $1.33 0.76%-21.38% | $2.23 -5.11%-37.46% | 67.67% | Jan 16, 2026 |
-- Grayscale Pyth Trust | $3.36M | 51.45M PYTH | $3.19 1.27%-26.49% | $- -%-% | -% | Jan 16, 2026 |
-- Grayscale Smart Contract Fund | $3.07M | Diversified | $9.88 0.41%-10.75% | $- -%-% | -% | Jan 16, 2026 |
DEFG Grayscale Decentralized Finance (DeFi) Fund | $2.74M | Diversified | $11.46 0.79%-18.95% | $12.02 -1.23%-41.57% | 4.89% | Jan 16, 2026 |
GLIV Grayscale Livepeer Trust | $1.95M | 605.91K LPT | $2.86 3.25%-31.44% | $2.85 <0.01%-64.48% | -0.35% | Jan 16, 2026 |
-- Grayscale Aave Trust | $1.20M | 6.90K AAVE | $16.88 2.49%-22.75% | $- -%-% | -% | Jan 16, 2026 |
GSNR Grayscale Near Trust | $1.01M | 592.26K NEAR | $2.45 -0.41%-21.03% | $3.19 <0.01%-56.54% | 30.20% | Jan 16, 2026 |
-- Grayscale Decentralized AI Fund | $713.84K | Diversified | $2.91 2.46%-25.99% | $- -%-% | -% | Jan 16, 2026 |
STCK Grayscale Stacks Trust | $683.19K | 1.86M STX | $1.76 0.57%-24.84% | $3.60 10.77%-% | 104.55% | Jan 16, 2026 |
-- Grayscale Lido DAO Trust | $160.39K | 263.53K LDO | $2.96 -0.34%-14.15% | $- -%-% | -% | Jan 16, 2026 |
-- Grayscale Optimism Trust | $85.79K | 254.89K OP | $1.64 -0.61%-20.37% | $- -%-% | -% | Jan 16, 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.