The world’s largest crypto investment company has added nearly $ 100 million to its portfolio of cryptocurrencies.
Grayscale Investments Holdings decided again to invest in cryptocurrencies, this time a clear favorite is Ethereum. The Daily Hodl came up with this information, which closely monitors the development of graphs from crypto analysts bybt.
According to the findings, Grayscale Investments added 131,402 Ethereum to its portfolio on December 8, with a current value of almost $ 72 million. The next day, he added 1,313 Bitcoin, currently worth nearly $ 24 million.
The fact that this time they have focused more on Ethereum is a consequence of the conviction of the CEO, Michael Sonnenshein, who claims that more and more institutional investors are focusing on Ethereum.
Over the course of 2020, we are seeing a new group of investors who are Ethereum-first and in some cases Ethereum-only. There’s a growing conviction around Ethereum as an asset class.
Grayscale Ethereum Trust has garnered the attention of a new segment of Ethereum-focused institutional allocators. During 3Q20, over 17% of inflows into the Grayscale Ethereum Trust came from new institutional investors.
He also adds that there is still a great deal of institutional interest in Bitcoin, which is by no means slowing down.
110 Interactions, 6 today