Grayscale Bought 53,000 ETH And Doubled ETH Assets
Cryptocurrency asset manager Grayscale Investments continues to buy cryptocurrency. Grayscale's Ethereum assets have doubled since early 2021. As reported by Glassnode, ETH under Grayscale's management is now $5.5 bln. This increase is in part due to new record high token prices. On February 11, the company acquired 53,000 ETH.
On February 1, Grayscale re-opened the Ethereum Trust to qualified investors. The fund was closed during the winter holidays, so institutional investors looking to overcome the rising tide of ETH had to wait.
Also in the first week, Grayscale acquired 83,678 ETH for a total of $139 mln, bringing the total assets under management to $30 bln at current prices.
Grayscale now has trusts for Litecoin, Stellar and ZCash. The company has also applied to Delaware to register various trusts associated with DeFi projects. These include Aave, Polkadot, Uniswap (UNI), Cosmos (ATOM), Monero (XMR), Theta (THETA), and Cardano (ADA). In total, Grayscale has applied for 33 registered trusts in Delaware.
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