Grayscale’s $2.7 billion in crypto assets will now be held by Coinbase Custody

Grayscale Investments has chosen Coinbase Custody to serve as the new security provider for its digital asset holdings, the two companies announced Friday. Coinbase Custody, which Coinbase CEO Brian Armstrong says already holds around $1 billion in digital assets, will act as the custodian for Grayscale's investment products. Grayscale claims to hold $2.7 billion in total assets under management, according to its most recent quarterly report, more than doubling its Q1 holdings of $1.2 billion.