• Over 50% of Genesis portfolio is ETH.
• Out of the over $414m of Genesis portfolio assets, 74% are Ethereum (ETH) and ERC-20 tokens.
• There are decent chunks of COMP, the native token of Compound; Sand of The Sandbox metaverse project; and APE, the native coin of ApeCoin, an NFT project associated with Bored Ape Yacht Club (BAYC).
The Genesis portfolio has seen an impressive recovery in the cryptocurrency markets this January. On-chain data from Jan. 23 shows that the over $414m of Genesis portfolio assets is made up of 74% Ethereum (ETH) and ERC-20 tokens, with ETH making up 51.4% of the portfolio. Alongside ETH, there are notable amounts of USDC, the fiat-pegged stablecoin issued and managed by Centre; COMP, the native token of Compound; Sand of The Sandbox metaverse project; and APE, the native coin of ApeCoin, an NFT project associated with Bored Ape Yacht Club (BAYC).
The remaining 11% of Genesis Global’s assets are marked as “others” and comprise assets in small quantities distributed across Ethereum and other smart contracting platforms, such as synthetix (SNX), BUSD, and others. These are mainly distributed between Avalanche, Fantom, and BNB Smart Chain.
While the over $414m of assets “belong” to Genesis, and it has filed for bankruptcy protection, its trading wing is still active in the markets and is not subject to chapter 11 proceedings. A statement issued by Genesis confirmed that its other subsidiaries involved in derivatives and spot trading and custody businesses and Genesis Global Trading are not included in the bankruptcy filing and continue to provide client trading operations.
As the market continues to recover, the Genesis portfolio has seen impressive growth. Its portfolio of ETH, ERC-20 tokens, and other assets has allowed it to benefit from the cycling of the market and will likely continue to do so as the markets continue to expand.