Grayscale's flagship Bitcoin and Ethereum trust funds, GBTC and ETHE, recorded estimated revenues of $41.92 million in July, bolstered by the ongoing rise in the cryptocurrency market.
Odaily Planet Daily News reports that Grayscale's GBTC and ETHE trust funds had an impressive performance, with estimated revenues reaching $41.92 million in July and $126.2 million in the second quarter. This growth is fueled by the increased interest in cryptocurrency investment and market growth, particularly in Bitcoin and Ethereum.
Since the beginning of the year, the Grayscale Bitcoin Trust has expanded from $10.54 billion to $18 billion as of July 31, reflecting the surging price of Bitcoin. The continued rise in cryptocurrency prices and favorable market conditions appear to have contributed to the ongoing success of Grayscale's flagship trust funds.
