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 20, 2026, data shows that the total Assets Under Management of Grayscale are $19.46B, including $18.92B in ETFs, $509.76M in public funds, and $31.50M in private funds. GBTC holdings are $10.91B, accounting for 56.08% of the total, and GETH holdings are $1.84B, accounting for 9.43%.
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 | $10.91B | 155.51K BTC | $54.65 -0.15%-21.83% | $54.65 -0.11%-28.00% | <0.01% | Mar 20, 2026 |
BTC Grayscale Bitcoin Mini Trust ETF | $3.63B | 51.76K BTC | $31.04 -0.13%-21.76% | $31.05 -0.10%-27.76% | 0.03% | Mar 20, 2026 |
ETH Grayscale Ethereum Mini Trust ETF | $1.86B | 873.06K ETH | $20.20 -0.44%-28.15% | $20.20 -0.39%-36.43% | <0.01% | Mar 20, 2026 |
ETHE Grayscale Ethereum Trust ETF | $1.84B | 860.76K ETH | $17.35 -0.46%-28.27% | $17.37 -0.34%-36.81% | 0.12% | Mar 20, 2026 |
GDLC Grayscale CoinDesk Crypto 5 ETF | $390.58M | Diversified | $32.23 -0.19%-23.30% | $32.25 -0.40%-30.55% | 0.06% | Mar 20, 2026 |
BCHG Grayscale Bitcoin Cash Trust | $180.58M | 385.28K BCH | $3.83 2.68%-16.15% | $3.35 2.13%-22.80% | -12.53% | Mar 20, 2026 |
GSOL Grayscale Solana Trust ETF | $113.04M | 1.27M SOL | $6.61 0.30%-29.97% | $6.61 0.30%-39.78% | <0.01% | Mar 20, 2026 |
LTCN Grayscale Litecoin Trust | $110.35M | 1.98M LTC | $4.55 <0.01%-16.73% | $4.22 -0.94%-38.93% | -7.25% | Mar 20, 2026 |
ETCG Grayscale Ethereum Classic Trust | $91.74M | 10.93M ETC | $6.56 0.77%-18.48% | $4.56 -1.51%-38.89% | -30.49% | Mar 20, 2026 |
ZCSH Grayscale Zcash Trust | $91.21M | 391.40K ZEC | $18.89 -1.51%-35.49% | $17.15 -6.28%-56.02% | -9.21% | Mar 20, 2026 |
GLNK Grayscale Chainlink Trust | $74.79M | 8.27M LINK | $8.02 <0.01%-18.91% | $8.04 <0.01%-% | 0.25% | Mar 20, 2026 |
GXRP Grayscale XRP Trust | $68.22M | 47.52M XRP | $27.84 -0.68%-22.08% | $27.83 -0.64%-37.87% | -0.04% | Mar 20, 2026 |
GSUI Grayscale Sui Trust | $23.79M | 24.83M SUI | $13.84 0.29%-29.22% | $13.85 0.29%-% | 0.07% | Mar 20, 2026 |
GXLM Grayscale Stellar Lumens Trust | $19.11M | 116.10M XLM | $13.72 -0.44%-18.01% | $17.22 0.41%-35.34% | 25.51% | Mar 20, 2026 |
GTAO Grayscale Bittensor Trust | $9.89M | 36.73K TAO | $5.15 7.29%-18.34% | $6.10 -4.54%-% | 18.45% | Mar 20, 2026 |
GDOG Grayscale Dogecoin Trust | $6.88M | 73.44M DOGE | $11.01 0.27%-19.35% | $11.01 0.36%-37.47% | <0.01% | Mar 20, 2026 |
HZEN Grayscale Horizen Trust | $5.37M | 944.29K ZEN | $0.4700 <0.01%-32.84% | $0.6300 -3.08%-45.45% | 34.04% | Mar 20, 2026 |
-- Grayscale Story Trust | $5.01M | 6.75M IP | $2.19 -4.37%-46.50% | $- -%-% | -% | Mar 20, 2026 |
-- Grayscale DeepBook Trust | $4.29M | 138.81M DEEP | $1.82 1.11%-24.23% | $- -%-% | -% | Mar 20, 2026 |
-- Grayscale Space and Time Trust | $3.36M | 200.22M SXT | $1.63 -0.61%-32.54% | $- -%-% | -% | Mar 20, 2026 |
-- Grayscale Walrus Trust | $3.30M | 41.41M WAL | $1.56 0.65%-29.05% | $- -%-% | -% | Mar 20, 2026 |
MANA Grayscale Decentraland Trust | $2.57M | 28.99M MANA | $0.7800 -1.27%-23.42% | $0.8300 9.21%-51.95% | 6.41% | Mar 20, 2026 |
GBAT Grayscale Basic Attention Token Trust | $2.44M | 25.10M BAT | $0.8600 <0.01%-28.24% | $0.5600 -8.20%-66.20% | -34.88% | Mar 20, 2026 |
-- Grayscale Pyth Trust | $2.20M | 51.23M PYTH | $2.08 -4.15%-16.84% | $- -%-% | -% | Mar 20, 2026 |
FILG Grayscale Filecoin Trust | $2.08M | 2.32M FIL | $0.7900 <0.01%-16.35% | $1.49 2.05%-57.81% | 88.61% | Mar 20, 2026 |
-- Grayscale Smart Contract Fund | $1.97M | Diversified | $6.35 -0.78%-24.31% | $- -%-% | -% | Mar 20, 2026 |
DEFG Grayscale Decentralized Finance (DeFi) Fund | $1.74M | Diversified | $7.30 -0.82%-17.42% | $7.36 -0.54%-48.19% | 0.82% | Mar 20, 2026 |
GLIV Grayscale Livepeer Trust | $1.33M | 603.30K LPT | $1.95 -0.51%-20.93% | $1.85 <0.01%-56.64% | -5.13% | Mar 20, 2026 |
-- Grayscale Aave Trust | $825.68K | 7.50K AAVE | $10.61 -2.21%-18.89% | $- -%-% | -% | Mar 20, 2026 |
GSNR Grayscale Near Trust | $799.92K | 608.05K NEAR | $1.89 -2.07%-17.89% | $2.12 7.61%-61.77% | 12.17% | Mar 20, 2026 |
-- Grayscale Decentralized AI Fund | $524.32K | Diversified | $2.14 2.39%-20.09% | $- -%-% | -% | Mar 20, 2026 |
STCK Grayscale Stacks Trust | $450.07K | 1.85M STX | $1.16 -0.85%-9.49% | $2.10 -3.67%-7.14% | 81.03% | Mar 20, 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 | $22.91 0.22%-83.58% | $22.93 568235600.00%-% | 0.09% | Mar 20, 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.