Voyager Digital, a publicly-traded, licensed crypto-asset broker has announced that its Assets under Management (AUM) have surpassed $100 million, up 20x from December 2019.
Addressing Voyager’s exponential growth over the past year, CEO Stephen Ehrlich said,
“Voyager’s offering of over 50 digital assets, including 22 interest-bearing assets, is winning over investors. As we increase our marketing reach, investors are gravitating to Voyager’s commission-free, easy to use platform, evidenced by our daily deposits increasing 25x since December.”
The 50 digital assets included in this list range from BTC, which noted 115% in YTD growth, as well as newly-listed tokens such as SRM and ZRX.
It must be noted, however, that Voyager Digital is just one of many crypto-asset brokers that have recorded significant growth of late.
11/06/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@Grayscale) November 6, 2020
In fact, Grayscale recently announced that its Total AUM had crossed $9.1 billion, with its Ethereum Trust crossing a milestone of $1 billion AUM.
In light of the firm’s steady accumulation of Bitcoin, CEO Barry Silbert did confirm recently that Grayscale had added over $500 million crypto-assets on behalf of their clients. This was mostly believed to have come from new investors entering the market.
Grayscale and Voyager Digital’s growth rates aren’t anomalies, however. In fact, the crypto-asset management market size is projected to grow from $0.4 billion in 2020 to $1.1 billion by 2025.
According to Richard Olsen, CEO at the digital asset marketplace Lykke, the crypto-asset management industry will see new levels of growth in a post-COVID-19 economy.
According to Olsen, cryptos are a new asset class that wealth managers can use to generate alpha,
“At the simplest level wealth managers will have to be able to embrace cryptos and related products as a source of asset diversification…. These products are by design not correlated with traditional investment products and offer a hedge to the existing financial product universe.”