Grayscale has been among the top institutions that have adopted cryptocurrencies over the past year to diversify their portfolio. In the last 30 days, Grayscale Investments hedge fund has acquired 35,855,625 XLM.
Grayscale Investment in Cryptocurrencies
The company also made purchases of 243,519 ETH, 174,939 LTC, and other altcoins in the past month. The total of LTC coins bought by Grayscale in that month add up to 80 percent of the total Litecoin mined in January. Last month, miners created 201,600 LTC overall.
In its latest purchase over the past 24 hours, Grayscale purchased 6,568,516 XLM worth $2,799,760. The investments put its net total crypto assets under management now at $30.4 billion.
Last year, Grayscale started with just $2 billion in assets under management and ended the year with more than $20 billion, representing a 900% increase.
In its Q4 2020 report, the company wrote that Institutions are here, adding that in the fourth quarter, institutions accounted for 93% of all the capital inflows during the period, or approximately $3 billion. Grayscale detailed that the average commitment among institutions is also growing at a significant pace, standing at $6.8 million, up from an average of $2.9 million in 3Q20, as they said.
The firm, which currently offers accredited investors eight single-asset investment trusts and one diversified fund, seeks ways to meet better-growing investor demand for digital assets exposure through familiar, secure, and regulated investment products.
Grayscale currently offers Horizen Trust, Grayscales Bitcoin Trust, Stellar Lumens Trust, Bitcoin Cash Trust, Ethereum Trust, Ethereum Classic Trust, Litecoin Trust, Zcash Trust, and the large-cap digital fund.
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