{"id":16147,"date":"2019-08-05T00:00:00","date_gmt":"2019-08-05T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/digital-asset-manager-grayscale-choses-coinbase-custody-to-secure-its-3b-worth-of-assets\/"},"modified":"2019-08-05T00:00:00","modified_gmt":"2019-08-05T00:00:00","slug":"digital-asset-manager-grayscale-choses-coinbase-custody-to-secure-its-3b-worth-of-assets","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/digital-asset-manager-grayscale-choses-coinbase-custody-to-secure-its-3b-worth-of-assets\/","title":{"rendered":"Digital Asset Manager Grayscale Choses Coinbase Custody to Secure its $3B Worth of Assets"},"content":{"rendered":"
Digital asset investment manager Grayscale<\/a> <\/strong>has signed a deal with leading US-regulated cryptocurrency exchange Coinbase\u2019s subsidiary Coinbase Custody<\/a><\/strong> that will see it store all its digital assets with the NY registered company. The deal went into effect on July 29th according to a press release by Grayscale published on Friday, August 2nd.<\/p>\n The release also reveals that Coinbase Custody will be the preferred custodian for Grayscale\u2019s investment assets including single-asset investment products such as Bitcoin<\/a> <\/strong>and Ethereum and diversified investment products such as the Grayscale Digital Large Cap Fund\u2122<\/strong> which holds and tracks the price of leading cryptocurrency assets. The fund currently holds Bitcoin, Ethereum, Ripple\u2019s XRP, Bitcoin Cash and Litecoin assets. Grayscale currently holds about 9 assets in its portfolio which include BTC, ETH, BCH, LTC, XRP, ETC, Horizen [ZEN], Stellar Lumens [XLM] and Zcash.<\/p>\n As reported by Forbes on Friday, Grayscale had announced that it would transfer all its assets worth about $3 billion in less than 12 hours on Friday, which would make it the largest single-day transaction to ever be conducted. The Grayscale assets have more than doubled in the last two quarters alone according to the latest quarterly report<\/a><\/strong>. In its Q1 report, the asset manager reported about $1.2 billion in assets under management a figure that ballooned in the second quarter to $2.7 billion.<\/p>\n