In the last few weeks, Grayscale Investment has made hundreds of million in investment in the two leading crypto assets, Bitcoin and Ethereum. Available data from Bybt shows that the firm purchased over 7000 units of BTCs which is worth well over $340 million. The firm had 648,470 BTCs in its Bitcoin’s Trust as of the first day of the month, this had grown to 655,750 by the 26th of February.
The data also shows that the investment company bought 240,000 units of Ethereum worth $361.5 million as its holding of the digital asset grew from 2.93 million ETH in its portfolio to 3.17 million. Cumulatively, the firm spent over $700 million in purchase of the two assets in the month of February, 2021. The purchase also brings the total assets under management value to $35.38 billion. This figure stood around $17.5 billion in 2020.
Interestingly, Grayscale has begun working on diversifying its holding due to the increased demand by its investors. The company already has products that offer their investors the opportunity to invest in products like Bitcoin Cash, Litecoin, Zcash, etc.
We also reported that the firm was actively looking at over 20 new crypto assets ranging from Sushiswap to Yearn Finance, Chainlink, Uniswap, Aave and others..