According to Glassnode, cryptocurrency analyst firm Grayscale appears to be very interested in cryptocurrencies. At the moment, Grayscale bought 195,000 ETH in just one month, and that is February of this year.
Glassnode: Grayscale Labs bought 53,000 ETH on February 11th
Since the beginning of 2021, the total amount and value of Ethereum managed by Grayscale has doubled:
Since the Grayscale #Ethereum Trust reopened in February, at total of 195,000 ETH have flown into the trust.
53,000 #ETH were added yesterday alone.
The current AUM of the ETHE Trust is $5.5B – more than double since the beginning of the year.
— glassnode (@glassnode) February 12, 2021
Glassnode tweeted that ETH under Grayscale is currently equivalent to $ 5.5 billion. Some of this increase is due to the token’s new all-time-high prices. However, Grayscale made a series of purchases as well. One of these purchases, on Feb. 11, included 53,000 ETH.
Grayscale also had a share regarding his holdings.
02/11/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@Grayscale) February 11, 2021
The tweet from Grayscale also shows how much the company has diversified since its inception in 2020. There is now confidence in Litecoin, Stellar, and ZCash. One fund XRP has been delisted, however. This is due to the potential exposure to (not to mention the lack of demand for) XRP because of the SEC lawsuits against Ripple and two of its CEOs.
Despite the removal of XRP, the company continues to grow. It has been submitted to the State of Delaware for a series of mandates related to DeFi projects. These include Aave, Polkadot, Uniswap (UNI), Cosmos (ATOM), Monero (XMR), Theta, (THETA), and Cardano (ADA). In total, Grayscale registered 33 trusts with the State of Delaware. Nine people are currently living.
Grayscale is by far the most active participant in the cryptocurrency market at the moment. However, this will likely change throughout 2021. On February 11, Canadian company Purpose Investments launched the first North American Bitcoin Exchange Fund (ETF). The Purpose Bitcoin ETF will trade on the Toronto Exchange.
Since ETFs have been the holy grail of institutional investment in cryptocurrencies since 2017, when the Gemini Trust signed up for a bitcoin ETF, this news could shake the world of institutional investment. If a US bitcoin ETF is approved by the SEC, future cash flows to Grayscale by institutions that cannot or will not directly hold BTC will no longer be secured.