Grayscale’s Ethereum fund has experienced tremendous growth over the past year.
Grayscale, one of the largest cryptocurrency funds and addressing corporate investors, recently released a report on assets under its management. The change in the report published by Grayscale attracted many crypto investors. Because, according to this report, the total amount of BTC under Grayscale increased almost twice, reaching $ 3.2 billion.
We know this is a very serious increase for Bitcoin. That number has doubled means that more institutional investors are now getting Bitcoin or existing institutional investors are starting to get more Bitcoin. These investors buy so much Bitcoin through Grayscale that it is believed that almost half of the bitcoins produced in the first 3 months of this year are taken by Grayscale.
Increase in Ethereum
The growth in Grayscale’s Bitcoin fund is truly admirable. But while many are interested in Grayscale’s Bitcoin fund, they ignore the Ethereum fund. Grayscale’s Ethereum fund is now too big to be overlooked.
According to data released by Grayscale in 2019, the company’s Ethereum fund had a total of $ 11.7 million in ETH. This number increased more than 20 times in just one year. According to data recently shared by Grayscale, the total value of ETHs currently held in the Ethereum fund is more than $ 275 million.
This change between 2019 and 2020; shows that institutional investors are now interested not only in Bitcoin but also in coins like Ethereum. We will see over time whether this will be reflected in Ether’s spot price.