5K Bitcoin Buys 75K Ethereum: Grayscale Increases Stock


Grayscale continues to expand its crypto money game with 5 thousand Bitcoin (BTC) and 75 thousand Ethereum (ETH). Grayscale Investments holds more than 2% of the total BTC and ETH supply, according to a financial analyst’s statement.

Grayscale Investments, one of the leading crypto investment companies, announced that the total value of assets under management (AUM) is $ 7.7 billion. Grayscale revealed the AUM value of investment products with the table shared on his social media account.

The company’s product with the most AUM was Grayscale Bitcoin Trust. Under the company’s management, the value of Bitcoin exceeded $ 6.5 billion. Grayscale Ethereum Trust followed, with approximately $ 945 million.

Grayscale’s financial products include $ 61.1 million worth of Ethereum Classic, $ 47.2 million worth of Bitcoin Cash, $ 36.2 million of Litecoin, and $ 10.2 million of Zcash.


Holds more than 2% of the total supply for BTC and ETH

Financial analyst and editor Ian Dyer highlighted important points from his Twitter account in terms of scaling the amount of Bitcoin and Ethereum under Grayscale’s administration. Dyer said the company bought another 5,191 Bitcoins on Friday. The current value of 5 thousand 191 Bitcoin is approximately $ 71 million. Dyer said that with Greyscale’s latest move, the total amount of Bitcoin in possession corresponds to 2.6% of the total supply.

In another tweet posted by analyst Ian Dyer today, it was announced that Grayscale Investsments received 75,419 Ethereum yesterday. Grayscale began holding 2.13% of the total Ethereum supply. The financial analyst also suggested in a statement that it is only a matter of time before demand shifts to ETH and other altcoins.

See Also
Grayscale: There Is A Potential Of $ 68 Trillion For Bitcoin


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