Wednesday, July 28, 2021
Home Crypto News Market Grayscale Is Buying More And More Ethereum, Adding 19,355 ETH To Their...

Grayscale Is Buying More And More Ethereum, Adding 19,355 ETH To Their Ethereum Trust in 7 days

- Advertisement -

The largest crypto asset manager in the world GrayScale bought a whopping 3,347 Ethereum yesterday.

Accumulation accelerated since Ethereum Trust reopened.

Grayscale has added 19,355 ETH to its Ethereum Trust in the past 7 days. The company now manages 3.17 million ETH tokens with a total value of nearly $4.86 billion. The asset manager has bought tons of tokens since reopening its Ethereum Trust in January 2021. In fact, in the past 30 days, Grayscale bought 243,519 ETH worth more than $380 million.

Also, data from shows that Grayscale has purchased large amounts of ZEC, ZEN and XLM. The company manages a total of 303,000 ZEC, 604,000 ZEN and 63 million XLM.

The total value of the company’s digital assets is now approximately $37.4 billion. This is down from $42.4 billion on Feb 20. The cause of this is the recent price dip of the crypto market.

Focus on Altcoins

Despite Bitcoin and Ethereum accounting for over 90% of the Grayscale digital assets, The assets manager now plans to purchase other cryptocurrencies as well. In a recent press release, Grayscale reported that it is considering 23 digital assets, including Aave, Chainlink, Polkadot, Cardano and EOS, as new investment products. Michael Sonnenshein, Grayscale’s CEO, said the following in the announcement:

We are eager to expand our product offering to better serve our investors. The digital currency universe is constantly evolving. We seek to create bold, exciting and innovative opportunities that meet our investors’ demand for differentiated exposure to this fast-growing asset class.

Ethereum hit an all-time high of $2,020 in February. The second largest cryptocurrency is now hovering around $1,600.

- Advertisement -
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade, and write on cryptocurrencies. My basic aim is to provide genuine information to cryptocurrencies readers because crypto is filled with frauds and scams. True information is very rare to get. So I will be providing accurate information about cryptocurrencies topics, that users can trust.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

The Graph to use Polygon for its billing system

Singapore, Singapore, 28th July, 2021, Polygon proof-of-stake (PoS) is an Ethereum scaling solution whose ecosystem attracts the brightest developers from all over the world....

Coca-Cola To Launch First-Ever NFT Collectibles

Coca-Cola and Tafi became partners as Tafi is designing virtual wearables for Coca-Cola's first-ever non-fungible token (NFT) collectibles to celebrate International Friendship Day on...

Binance CEO Aims To Make Binance Regulated Worldwide, Also Daily Withdrawal Limit For Binance Unverified Accounts Reduced And Binance Leverage Trading Limit Reduced

Changpeng Zhao, Binance CEO and Founder, stated that Binance will work with local regulators in order to establish Binance regional headquarters.

Utah Resident, A Dogecoin Fan Selling His Home For Crypto Offers a Generous 10% Discount only If He Is Paid In Doge

According to local TV station KUTV (Video Below), an American citizen from Utah joined the ranks of those selling their property for cryptocurrencies. Utah Resident,...

Panther Protocol Partners with Vegaswap

Midtown, Gibraltar, 27th July, 2021, Panther Protocol, the privacy protocol, has partnered with Vegaswap, the automated market maker (AMM) protocol with multichain support. Vegaswap is...

European Digital Identity: Talao Announces Professional Credential Solution

Paris, France, 27th July, 2021, Talao, a blockchain-based Digital Identity specialist for the Human Resource industry, today announced a professional credential application to transform...

Vechain CEO, Sunny Lu Interview By Fenbushi Capital, Sunny Lu Talks About Partners, Investors And The Three Historic Choices

VeChain CEO, Sunny Lu, was interviewed by Fenbushi Capital for their Distributed Entrepreneurship Column. Sunny talks partners (DNV, PwC), investors (Fenbushi, Fenchain), and the three...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly