Digital Currency Group (DCG), the parent company of asset manager Grayscale, reported first-quarter revenue up 11% from the previous quarter, reaching $229 million.

Grayscale accounted for $156 million of the company's first-quarter revenue. Despite mass divestments of GBTC and reduced management fees after converting to an ETF in January, Grayscale's revenue remained unchanged compared to the fourth quarter of 2023 thanks to strong increases in Bitcoin and ETH prices.

“While Grayscale expected outflows along with stiff competition in the form of ETFs, Q1 revenue generated by GBTC still exceeded our expectations.”

Two other notable DCG subsidiaries, cryptocurrency mining pool Foundry and investment platform Luno, saw revenue increase by 35% and 46%, respectively.

“The first quarter of 2024 was marked by a number of exciting developments, including the approval of US spot Bitcoin ETFs including our GBTC, while Bitcoin prices reached all-time highs. era in March. Against that backdrop, DCG had a strong start to the new year."

On a year-over-year basis, DCG's first-quarter revenue increased 51% year-over-year while Bitcoin's price increased about 134%.

Source: https://tapchibitcoin.io/cong-ty-me-grayscale-bao-cao-doanh-income-tang-11-trong-q1-2024.html