Grayscale, the world’s largest crypto asset management firm, has accelerated its accumulation of the world’s second-largest cryptocurrency. The firm now has more than 3 million Ethereum with a total value of $4.9 billion. Grayscale added 47,000 ETH in the last 24 hours.
According to the latest data published by Grayscale, the total value of the company’s digital assets under management jumped above $29 billion yesterday after Bitcoin and Ethereum posted record gains. Bybt.com data shows that the value of Grayscale’s crypto assets under management is near $30 billion.
Ethereum is its second-largest holding of the firm after Bitcoin. Grayscale temporarily stopped new investments into its Ethereum Trust last month but recently reopened it for accredited investors. The company purchased 70,791 ETH in the last 7 days.
Bitcoin remained the largest holding of Grayscale with nearly 650,000 BTC under management. The total value of the company’s Bitcoin holding jumped above $24 billion on Thursday. Grayscale accumulated 42,223 BTC in the last 30 days.
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Grayscale’s Ethereum Report
The asset manager released its Ethereum report yesterday to help clients understand the structure and purpose of the ETH network. The firm also outlined the importance of Ethereum 2.0 to improve the overall network activity of Ethereum.
“Between the enormous amount of activity on Ethereum, the economic improvements to Ether, and the promise of increased scalability with ETH 2.0, there is a lot for the Ethereum community to be excited about. We can observe from the data that the price of Ether tends to move with underlying activity on the network. As noted throughout this report, multiple metrics are reaching new highs, including active addresses, hash rate and network fees, a positive sign for investors,” Grayscale mentioned in the report.
Apart from Bitcoin and Ethereum, Grayscale has more than 1.3 million Litecoin (LTC) with a total worth of over $200 million. The firm purchased 166,035 LTC in the last 30 days. Bitcoin Cash remained the fourth-largest holding of the firm with 268,000 BCH valued at nearly $120 million.