Saturday, October 23, 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 primary aim is to provide genuine information to cryptocurrency readers because crypto is filled with frauds and scams. Accurate information is scarce to get. So We at TheCryptoBasic 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 Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts

Tortola, British Virgin Islands, 22nd October, 2021, Transient Network, a Smart Contract Global Marketplace, is thrilled to announce that it has raised $1.2 million...

Binance Smart Chain Is Bringing Fee-Burning Mechanism Like Ethereum

The Binance Smart Chain (BSC) has published a proposal to improve the BEP-95 ecosystem, This new mechanism will be similar to the Ethereum chain...

Subscribe To Our Newsletter

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