Corporate Money Flows to Ethereum (ETH)!

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Grayscale, the leading cryptocurrency investment and asset management firm, has more than 1% of the total Ethereum available. This was explained in the company’s Net Assets Under Management (AUM) report, released on June 2. The report shows that Grayscale has $ 338.8 million AUM, which represents more than 1% of the circulating supply for Ethereum.

Grayscale has been aggressively buying Ethereum since the beginning of the year. As at the end of April, the company made a purchase equivalent to 50% of all mined Ether in 2020. This was due to the need to keep Ethereum Trust strong on the platform as interest in Ethereum continues to grow.

Ethereum (ETH) Rise Continues

Ethereum has been performing really well lately. It is currently one of the best performing assets by price, and its future still seems alive as its fundamentals are appreciated by analysts.

It is unclear whether Grayscale contributed to the performance of the large investment it made in the asset, but Ethereum continues to rise steadily.

Meanwhile, Grayscale is buying Bitcoin on a large scale this year. Recently, it bought more than 30% of all mined Bitcoins in 2020 because it is the asset with the largest AUM. Other digital assets such as Bitcoin Cash, Ethereum Classic, Litecoin, Stellar Lumen, XRP, Zcash and Horizen are held by the company with significant shares from their available resources.

Strengthening since its foundation, the company has become a reliable investment platform for institutional investors to invest in digital assets. If the company continues to grow at this rate, asset holdings may reach unprecedented levels by the end of the year. The platform is still buying Ether to increase their presence and may exceed the current volume in the near future.

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