Wednesday, April 21, 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

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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.

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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.


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