Investment firm Grayscale Investments has purchased 75,419 ETH for its Ethereum Trust, the second-largest of its assets by size. The information was shared by analyst Ian Dyer.
Grayscale bought 75,419 $ETH yesterday, and they now own 2.13% of the total supply. Demand will flow into ETH and #altcoins and push price up, just a matter of time!
— Ian Dyer (@IanDyerGuru) November 3, 2020
According to his observations, Grayscale Investments now controls 2.13% of the total supply of the second-largest cryptocurrency by market capitalization.
\”Demand will flow into ETH and altcoins, which will drive prices higher. It’s only a matter of time,\” Dyer expressed optimism.
According to the latest data, assets under management by Grayscale Investments total $7.7 billion.
11/02/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $7.7 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/rExwALUBn4
— Grayscale (@Grayscale) November 2, 2020
As before, the Bitcoin-based fund remains the most sought after among investors. It holds 456,537 BTC, equal to 2.46% of the circulating supply of the top cryptocurrency.
Since the start of the year, the number of bitcoins held by Grayscale Bitcoin Trust has risen by 61.2%. Data: grayscale.co.
The Grayscale Bitcoin Trust makes up 84.7% of the company’s portfolio. The Ethereum-based fund accounts for 12.25%.
Earlier ForkLog reported that Grayscale Ethereum Trust became a company subject to the U.S. Securities and Exchange Commission (SEC).
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