Grayscale Purchases Litecoin, Bitcoin Cash and Ethereum Classic

The company reported minor outflows in Bitcoin and Ethereum.

Grayscale, the world’s largest crypto assets manager, has accelerated its accumulation of several digital assets including Litecoin, Bitcoin Cash and Ethereum Classic. The total value of the company’s crypto assets under management stands at around US$39 billion.

According to the latest data published by crypto analytics firm, Bybt.com, Grayscale purchased 1,468 Litecoin, 1,822 Bitcoin Cash and 80,300 Ethereum Classic in the last 24 hours. The crypto assets manager bought a total of 37,928 LTC in the last 7 days.

The data shows that 35 Bitcoin worth nearly US$1.7 million left Grayscale in a single day. The company also reported a minor outflow of 151 Ethereum during the same period. A total of 89 BTC left Grayscale in the last 7 days, compared to the inflow of 3,565 ETH.

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Bitcoin remained the dominant crypto asset for Grayscale as the firm now has more than 655,500 Bitcoin under management with a total value of approximately US$33.5 billion. Despite the reason that the net Bitcoin inflows turned negative for Grayscale in the last 7 days, the asset manager accumulated a total of 6,748 BTC worth more than US$330 million in the last 30 days.

Grayscale’s Litecoin Purchases

The asset manager has expanded its Litecoin Trust significantly since the start of 2021. The company purchased 141,254 LTC in the last 30 days. Grayscale now has 1.45 million LTC under management with a total value of approximately US$275 million. Litecoin is the third-largest holding of Grayscale, behind Bitcoin and Ethereum. In addition to Litecoin, Grayscale purchased Bitcoin Cash and Ethereum Classic in large amounts over the last few weeks. The firm has a total of 289,000 Bitcoin Cash (BCH) under management with a total value of US$153 million. The total worth of Grayscale’s Ethereum Classic (ETC) under management stands at around US$140 million. The cryptocurrency market is still hovering at around US$1.5 trillion market cap after a marginal drop of nearly 3% in the last 24 hours. Bitcoin is trading near US$49,000 with a total market cap of US$920 billion.

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