Grayscale Purchased $709M Worth Of Cryptocurrencies Within One Month
According to data from crypto analytics platform Bybt, Grayscale has been acquiring a ton of Bitcoin and Ethereum throughout the month of February despite the recent crypto crash. Digital Asset Manager of Grayscale has traded staggering amounts of Bitcoin and Ethereum by carefully analyzing volatility and value trends of these currencies.
It is reported that the company made a purchase of about $348 Million worth of Bitcoin and $361 Million worth of Ethereum, pilling up an additional 7280 Bitcoin and 240,000 ETH, respectively and pushing its total Bitcoin and Ethereum stock up by around $709 Million in just February of 2021.
Grayscale’s Expansion
Data from Bybt also shows that Grayscale had a stockpile of around 648,000 Bitcoin and 2.9 Million Ethereum on the 1st of February 2021 and expanded it to around 655,000 Bitcoin and 3.17 Million Ethereum by the end of the month, boosting the value of both currencies that already stand at the top of the market currently. Not only does the value of these currencies go up, but it also gives opportunities to products like Bitcoin Cash, Ethereum Classic, Stellar, and many others to gain some exposure in the market.
Ethereum Classic (ETC) Trust was able to grasp a position in the top charts of being the most liquidated product that has been traded, providing an impressive percentage of more than 100% in returns.
All of this recent stockpiling of Cryptocurrencies by Grayscale has brought the firm’s total AUM to around $35 Billion. Grayscale has grown so massive in the last year that its Bitcoin Trust went from $1.8 Billion to a staggering $17.5 Billion by the end of the year and is likely to keep growing as Grayscale keeps acquiring more and more Bitcoin.
Grayscale Ventures Around The World
Grayscale has always been investing in multiple projects, ETPs, and supporting crypto-based Trusts. Grayscale has also recently partnered with a list of some altcoin trusts, including AAVE by Aave, ADA by Cardano, EOS, XMR by Monero, ATOM by Cosmos, UNI by Uniswap, and DOT by Polkadot, displaying the impressive amount of respect and integrity the company has obtained in the market.
