Grayscale parent company DCG's Q1 revenue is $229 million

PANews reported on May 9 that according to CoinDesk, Grayscale's parent company Digital Currency Group (DCG) reported in the first quarter of 2024 that the company's revenue in the first quarter increased by 11% month-on-month, reaching US$229 million. Grayscale converted its flagship product Grayscale Bitcoin Trust Fund to an ETF in January, but its revenue remained flat as rising cryptocurrency prices offset large capital outflows and falling management fees. DCG's other two well-known companies, crypto mining pool Foundry and investment platform Luno, saw revenue growth of 35% and 46%, respectively.