In just a day, the largest BTC absorber, Grayscale, has acquired more than a whopping $0.9 billion in digital assets. The firm holds an impressive $45 billion in total cryptocurrency coins, including Bitcoin and other altcoins.
According to the data provided by Bybt indicates, Grayscale’s holdings soared after adding more altcoins to its already massive number of cryptocurrencies. Interestingly, in the past few days alone, the firm acquired as many as 2,963 ZEN, 71,035 XLM, and other altcoins.
Although the premiums for ETC trust, Ethereum Trust, and Bitcoin Trust remain negative, most BTC products and LTC premiums have seen a surge in prices. Currently, the shares of LTC Trush stocks are at a staggering $235 per share, which is an impressive 859.4 percent increase.
Experts suggest that the high premium on Grayscale products suggests excessively bought products as investors are starting to lock their profits. The key development comes after another prominent investment firm bought as many $4.71 million in shares in the ETH Trust offered by Grayscale. Earlier in February, the company also bought almost eighty percent of all Litecoin mined.