The world’s largest crypto asset manager also accumulated 10,640 Ethereum Classic in a single day. Grayscale, a leading digital asset management company, has purchased a total of 995 Bitcoins in the past 24 hours, with a total value of over $ 31 million. The company has also accumulated 10,234 Litecoins and 10,640 Ethereum Classic.
Grayscale continues to grow its crypto portfolio.
According to data provided by crypto analytics firm Bybt.com, Grayscale has accelerated the process of holding altcoin with its recent purchases. The company purchased 1,787 Bitcoin Cash in one day alongside Bitcoin, Litecoin, and Ethereum Classic.
Grayscale’s total crypto assets under management currently stand at around $ 25.5 billion. Bitcoin is the largest holding of the asset management firm as the company owns more than 640,000 Bitcoins. The total value of Grayscale’s Bitcoin amount is more than $ 21 billion. The firm has added about 40,000 BTC in the last 30 days.
Grayscale’s latest accumulation shows that corporate demand has increased significantly this year. In its report for the fourth quarter of 2020, he noted that the world’s largest asset manager institutions accounted for more than 90% of entries in 2020.
Expansion of Investment Trusts
According to the latest reports, the company plans to expand its existing investment offers due to increased demand. Since the beginning of 2021, several crypto assets have outperformed Bitcoin in terms of price gains. Polkadot, Cardano, Chainlink, Litecoin, and Stellar all went higher than BTC in January 2021. Recent purchases show that Grayscale plans to accelerate the accumulation of cryptocurrency assets other than Bitcoin and Ethereum. The company has purchased around 100,000 Litecoins and more than 17,000 Bitcoin Cash in the last 30 days.
The value of Ethereum in Grayscale’s hands has declined slightly over the past 24 hours by the crypto asset manager. Interest in Ethereum-related investment products has declined last week, although weekly crypto inflows have increased significantly, according to CoinShares’ latest report. ETH price is currently trading around $ 1,330, down more than 5% in the past 24 hours.
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