Grayscale, the world’s largest crypto asset manager, has accelerated its Ethereum accumulation as the firm purchased 52,730 ETH worth more than $93 million in the last 24 hours. The company’s Ethereum Trust now has more than 3.13 million ETH under management with a total value of over $5.5 billion.
According to the latest data published by crypto analytics firm, bybt.com, Grayscale accumulated a total of 111,182 Ethereum in the last 7 days after a significant jump in ETH price. As of writing, ETH is trading above $1,760 with a total market cap of $200 billion.
Grayscale also purchased 36,987 Litecoin in the last 24 hours as the total value of Grayscale’s LTC assets under management jumped above $250 million for the first time. Litecoin has performed well in the last few weeks as the cryptocurrency is up more than 20% in the last 7 days. LTC is now the 8th most valuable crypto asset in the world with a market cap of around $12 billion.
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The asset management firm recently published a report on Ethereum and pointed out the potential benefits of ETH 2.0.
Grayscale and Bitcoin
Despite the recent accumulation of ETH, Bitcoin remained the largest holding of Grayscale. The company’s Bitcoin accumulation slowed down a little bit in recent days, but BTC still accounts for more than 80% of Grayscale’s total crypto assets under management. The firm purchased 170 Bitcoin worth more than $8 million in the last 24 hours. Overall, the firm has 650,360 Bitcoin under management with a total value of $30.5 billion. Grayscale is the world’s largest institutional holder of BTC. Additionally, the company has nearly 269,000 Bitcoin Cash with a total worth of $140 million along with 12.29 million Ethereum Classic valued at approximately $139 million.
The total value of Grayscale’s crypto assets under management crossed $37 billion yesterday after Bitcoin jumped above $48,500 for the first time. BTC currently has a market cap of more than $880 billion. The overall market cap of cryptocurrencies stands at around $1.43 trillion.