The Capital
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The Capital

In 24 Hours Grayscale Buys $1Billion In Crypto

As of April 21, the Grayscale owns $45.8 billion worth of Bitcoin and other cryptocurrencies. Grayscale Investments has acquired another incredible amount of crypto in just 24 hours of $0.9 billion worth of digital assets.

Grayscale has bought more altcoins to add to its already huge holdings. As of April 22, the company has acquired 519 ZEN, 967 LPT, and 29,990 LINK.

04/21/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

- Grayscale (@Grayscale) April 21, 2021

In the last seven days, Grayscale has acquired 71,035 XLM and 2,965 ZEN, and in altcoins based on five recently launched trusts: LINK: +42,507, BAT: + 259,421, MANA: +278,205, LPT: +20146, FIL: +3,524

While premiums for Bitcoin, Ethereum, and Ethereum Classic Trust remain negative, premiums of LTC and BCH have seen have seen a huge jump.

Litecoin Trust (LTCN) shares are trading at a whopping 859.42% premium, while Bitcoin Cash Trust (BCHG) shares are changing hands at a +239.69% premium.

Extremely high premiums in grayscale show overbought products, indicating that investors are beginning to lock in their profits.

Originally published at https://thecryptobasic.com on April 22, 2021.

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