Cryptos

Grayscale raises Ethereum investment to $10 billion

Earn 8 Reward Points by commenting the blog post

Grayscale’s crypto asset manager Grayscale has a large portfolio that includes Ethereum. Grayscale now holds over 3 million Ethereum in its assets (AUM), which is more than $ 10 billion. This makes Grayscale the largest Ethereum holder in the space.

Similar reading: Crypto Market Enters “Extreme Greed” – What Does This Mean for Bitcoin| Crypto Market Enters ‘Extreme Greed’, What It Means For Bitcoin

The asset manager had slowly increased his holdings over time of ETH. By adding almost 20,000 ETHHis wallet in February. Recent filings indicate that the New York-based asset management firm has increased his crypto holdings over the last report. This has pushed the total assets under his management from $ 33 billion down to $ 41.4 billion.

Ethereum isn’t the only interest

The fund was initially designed to offer investors a way of investing in Bitcoin via the stock market. Grayscale has expanded its portfolio of cryptoassets over the years to give investors greater access to the markets. Grayscale’s crypto management covers a variety of cryptocurrencies. Assets supported include Bitcoin, Ethereum, Litecoin and Ethereum Classic, as well as many other cryptocurrencies.

 Source:| Source: Grayscale on Twitter

Grayscale has $ 10 billion in ETH, $ 29 billion BTC and more than $ 700 million in Ethereum Classic. It also has $ 300 million in Litecoin and $ 300 million in Litecoin. Grayscale is the world’s largest crypto asset manager due to the size of its assets.

Grayscale had also jumped into DeFi in July, when he A new DeFi fund was launched. This fund was the company’s first fund of its kind, but it would be the second fund with diversified products. This fund was built on the Coindex DeFi index.

Highest assets under management

Although Ethereum makes up a large portion of the portfolio of the asset manager’s, bitcoin remains at top of the list. Grayscale’s Bitcoin holdings exceed 640,000 coins, which brings the total value of the portfolio to close to $ 30 billion. These assets make up the majority of the portfolio’s assets. The portfolio’s second largest holdings of Ethereum by the asset manager is bitcoin.

Similar reading | Here’s what Bitcoin exchange inventory levels mean for the Bull rally

Bullish market conditions have also helped boost confidence. The price of Ethereum has risen substantially over the last three weeks. The price of the digital asset has stabilized at $ 3,000, which is a price it was not able to surpass after its all-time high.

Ethereum is trading at above $ 3,200 at the time this writing, with a price fluctuation of 0.71% over 24 hour.

Ethereum price chart from TradingView.com

ETH price at $3,200 | Source: TradingView.com ETHUSD




Source

Related Articles

Leave a Reply

Back to top button