Grayscale Assets Under Management (AUM) Now Has $10 Billion Worth of Ethereum
Grayscale, one the most prominent digital asset managers, has released an update on its total crypto assets under management recently. Among $41 Billion in crypto assets, Grayscale owns more than 3 million Ethereum valued at over $10 Billion.
Grayscale’s latest data shows that the company’s AUM was $41.4 billion as of August 13, 2021. This is 25% more than the $33 billion it had on July 28, 2021.
The accumulation of Ethereum has been significantly accelerated by Grayscale since 2021. The American company added almost 20,000 Ethereum to its holdings in the first week of March. Grayscale is the largest institutional holder of ETH.
Since August 2021, Ethereum network activity has increased rapidly. The main reason for this is because famous Ethereum whale accounts have been moving ETH from crypto analytics platform Glassnode shows that the ETH balance on major digital exchanges has fallen to its lowest level in over two years. crypto exchanges into unknown digital wallets, which means that there are fewer chances of major ETH sell-off and more chances of ETH price increase.
Originally published at https://thecryptobasic.com on August 16, 2021.