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 Feb 27, 2026, data shows that the total Assets Under Management of Grayscale are $18.02B, including $17.49B in ETFs, $501.53M in public funds, and $34.50M in private funds. GBTC holdings are $10.29B, accounting for 57.09% of the total, and GETH holdings are $1.67B, accounting for 9.26%.
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 | $10.29B | 156.87K BTC | $51.13 -2.70%-4.39% | $51.13 -2.76%-24.01% | <0.01% | Feb 27, 2026 |
BTC Grayscale Bitcoin Mini Trust ETF | $3.33B | 50.84K BTC | $29.02 -2.72%-4.26% | $29.02 -2.72%-23.74% | <0.01% | Feb 27, 2026 |
ETHE Grayscale Ethereum Trust ETF | $1.67B | 868.08K ETH | $15.68 -4.97%-9.93% | $15.69 -5.02%-31.36% | 0.06% | Feb 27, 2026 |
ETH Grayscale Ethereum Mini Trust ETF | $1.58B | 819.68K ETH | $18.20 -4.96%-9.73% | $18.20 -5.06%-30.91% | <0.01% | Feb 27, 2026 |
GDLC Grayscale CoinDesk Crypto 5 ETF | $363.77M | Diversified | $30.02 -3.07%-5.30% | $30.01 -3.16%-26.02% | -0.03% | Feb 27, 2026 |
BCHG Grayscale Bitcoin Cash Trust | $178.74M | 385.84K BCH | $3.79 -3.56%-16.15% | $3.25 -4.41%-22.80% | -14.25% | Feb 27, 2026 |
LTCN Grayscale Litecoin Trust | $107.41M | 1.99M LTC | $4.43 -2.42%-16.73% | $4.11 -2.61%-38.93% | -7.22% | Feb 27, 2026 |
GSOL Grayscale Solana Trust ETF | $106.99M | 1.31M SOL | $6.03 -5.34%-5.38% | $6.04 -5.33%-37.36% | 0.17% | Feb 27, 2026 |
ETCG Grayscale Ethereum Classic Trust | $94.52M | 10.94M ETC | $6.75 -1.89%-18.48% | $4.62 -1.70%-38.89% | -31.56% | Feb 27, 2026 |
ZCSH Grayscale Zcash Trust | $85.41M | 391.96K ZEC | $17.69 -8.58%-35.49% | $14.72 -3.85%-56.02% | -16.79% | Feb 27, 2026 |
GXRP Grayscale XRP Trust | $72.46M | 53.55M XRP | $26.25 -2.92%-4.99% | $26.25 -2.89%-% | <0.01% | Feb 27, 2026 |
GLNK Grayscale Chainlink Trust | $67.07M | 7.72M LINK | $7.72 -4.10%-12.42% | $7.71 -4.70%-% | -0.13% | Feb 27, 2026 |
GXLM Grayscale Stellar Lumens Trust | $18.29M | 115.95M XLM | $13.16 -2.16%-18.01% | $14.25 -6.86%-35.34% | 8.28% | Feb 27, 2026 |
-- Grayscale Story Trust | $6.48M | 6.76M IP | $2.83 -2.41%-46.50% | $- -%-% | -% | Feb 27, 2026 |
GTAO Grayscale Bittensor Trust | $6.38M | 36.55K TAO | $3.34 -4.30%-18.34% | $12.20 1.41%-% | 265.27% | Feb 27, 2026 |
GDOG Grayscale Dogecoin Trust | $6.08M | 65.22M DOGE | $10.96 -3.69%-1.24% | $10.98 -3.60%-% | 0.18% | Feb 27, 2026 |
HZEN Grayscale Horizen Trust | $5.11M | 945.64K ZEN | $0.4500 -2.17%-32.84% | $0.6600 -4.35%-45.45% | 46.67% | Feb 27, 2026 |
-- Grayscale Avalanche Trust | $5.10M | 572.73K AVAX | $4.29 -3.60%-17.97% | $- -%-% | -% | Feb 27, 2026 |
-- Grayscale Space and Time Trust | $4.10M | 200.51M SXT | $1.99 -1.97%-32.54% | $- -%-% | -% | Feb 27, 2026 |
-- Grayscale DeepBook Trust | $3.46M | 139.01M DEEP | $1.47 -4.55%-24.23% | $- -%-% | -% | Feb 27, 2026 |
-- Grayscale Walrus Trust | $3.15M | 41.47M WAL | $1.49 -1.32%-29.05% | $- -%-% | -% | Feb 27, 2026 |
MANA Grayscale Decentraland Trust | $2.81M | 29.04M MANA | $0.8500 <0.01%-23.42% | $0.7400 -6.33%-51.95% | -12.94% | Feb 27, 2026 |
GBAT Grayscale Basic Attention Token Trust | $2.68M | 25.13M BAT | $0.9400 -6.00%-28.24% | $0.7300 <0.01%-66.20% | -22.34% | Feb 27, 2026 |
-- Grayscale Pyth Trust | $2.55M | 51.30M PYTH | $2.42 -4.35%-16.84% | $- -%-% | -% | Feb 27, 2026 |
FILG Grayscale Filecoin Trust | $2.25M | 2.28M FIL | $0.8700 -3.33%-16.35% | $1.27 -3.79%-57.81% | 45.98% | Feb 27, 2026 |
-- Grayscale Smart Contract Fund | $1.89M | Diversified | $6.07 -4.56%-24.31% | $- -%-% | -% | Feb 27, 2026 |
DEFG Grayscale Decentralized Finance (DeFi) Fund | $1.80M | Diversified | $7.54 -2.96%-17.42% | $7.59 <0.01%-48.19% | 0.66% | Feb 27, 2026 |
GLIV Grayscale Livepeer Trust | $1.39M | 604.17K LPT | $2.04 -0.97%-20.93% | $2.09 14.84%-56.64% | 2.45% | Feb 27, 2026 |
-- Grayscale Aave Trust | $845.19K | 7.51K AAVE | $10.86 -2.16%-18.89% | $- -%-% | -% | Feb 27, 2026 |
GSNR Grayscale Near Trust | $643.61K | 590.56K NEAR | $1.56 -1.89%-17.89% | $2.16 -0.46%-61.77% | 38.46% | Feb 27, 2026 |
STCK Grayscale Stacks Trust | $480.11K | 1.86M STX | $1.24 <0.01%-9.49% | $2.21 <0.01%-7.14% | 78.23% | Feb 27, 2026 |
-- Grayscale Decentralized AI Fund | $427.79K | Diversified | $1.75 -2.23%-20.09% | $- -%-% | -% | Feb 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 |
GSUI Grayscale Sui Trust | $0.00 | 23.66M SUI | $12.96 -3.43%-9.40% | $13.05 2124059200.00%-% | 0.69% | Feb 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.