August 2, 2019 Grayscale Investments announces it will move its $2.7B in crypto assets to Coinbase Custody, which provides cold storage services to institutional investors.

Grayscale’s assets under management, which were previously held by Xapo, have more than doubled from Q1 2019, in which it managed $1.2B. The move will nearly triple the amount of assets, previously just over $1B, held in Coinbase Custody.