# Grayscale Advisors

> Grayscale Advisors is an SEC-registered investment advisory firm in Stamford, CT, registered since 2022, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated August 5, 2026.

- CRD: 314868
- Filed as: GRAYSCALE ADVISORS
- Legal name: Grayscale Advisors, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Stamford, CT
- Filing period: October 2026
- Form ADV filing dated: August 5, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/314868
- AdvisorCensus page: https://advisorcensus.com/firm/grayscale-advisors-stamford-ct-314868

## Quick answers

**How is Grayscale Advisors compensated?**
On its Form ADV (Item 5.E, October 2026), Grayscale Advisors reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Grayscale Advisors located?**
Grayscale Advisors' principal office is in Stamford, CT, according to its Form ADV.

**Is Grayscale Advisors registered with the SEC or a state?**
Grayscale Advisors is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 314868.

**How much does Grayscale Advisors manage?**
Grayscale Advisors reports $60,561,877 in regulatory assets under management in its Form ADV filing dated August 5, 2026 (78% discretionary).

**How have Grayscale Advisors' assets and staff changed since 2021?**
In the Form ADV data for Grayscale Advisors: Regulatory assets under management: $0 in the October 2021 data and $60,561,877 in the October 2026 data. Total employees: 6 in October 2021 and 126 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Grayscale Advisors serve?**
By number of clients on Form ADV Item 5.D: investment companies (6); pooled investment vehicles (other than investment companies and business development companies) (2).

**Does Grayscale Advisors report any disciplinary disclosures?**
Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(1) (SEC or CFTC finding of a false statement or omission), 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/314868

**What changed in Grayscale Advisors' recent Form ADV filings?**
In the August 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $60,561,877
- Discretionary: $47,253,052
- Non-discretionary: $13,308,825

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 6 | $47,447,883 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $13,113,994 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2022 (4 years)
- Employees: 126 total, 27 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CT, NY
- Disclosures (Item 11): Reports 4 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(1): Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/314868

### Websites listed on Form ADV (Item 1.I)
- grayscale.com/private-funds/gdif

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $0 | 6 | May 27, 2021 |
| October 2022 | $11,200,000 | 20 | August 3, 2022 |
| October 2023 | $3,429,924 | 60 | March 31, 2023 |
| October 2024 | $7,846,850 | 73 | August 20, 2024 |
| October 2025 | $2,301,084 | 117 | May 8, 2025 |
| October 2026 | $60,561,877 | 126 | August 5, 2026 |

Regulatory assets under management: $0 in the October 2021 data and $60,561,877 in the October 2026 data.
Total employees: 6 in October 2021 and 126 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Updated its list of owners and control persons (Schedule A).

### July 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 23 to 27.
- Regulatory assets under management went from $2,301,084 to $60,561,877 (+2532%).

### December 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Grayscale Advisors (CRD 314868): Form ADV filing data as of October 2026.