Grayscale Purchases Litecoin, Ethereum Classic, and Bitcoin Cash
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Grayscale Purchases Litecoin, Ethereum Classic, and Bitcoin Cash

March 5, 2021      Deepshikha Gupta

Grayscale, a leading crypto manager, has accelerated the multiplication of its digital assets. Grayscale has recently purchased Litecoin, Ethereum Classic, and Bitcoin Cash. The total value of crypto-assets of Grayscale is around US$39 billion. Investment in the “digital silver,” Litecoin is the third-largest investment of Grayscale

Grayscale Invests in Litecoin, Ethereum Classic, and Bitcoin Cash

According to the latest published data, Grayscale has made an investment in 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.

According to the data, nearly $1.7 million outflows are reported. Along with 151 Ethereum left Grayscale in a single day. A total of 89 Bitcoin left Grayscale in 7 days. An inflow of 3,565 ETH is also reported in Grayscale.

Despite the reason that BTC inflows turned negative for Grayscale in the last 7 days, Grayscale has invested in a total of 6,748 Bitcoin worth more than US$330 in past 30 days. The firm has now more than  655,500 Bitcoin with a total value of approximately US$33.5 billion. 

Grayscale’s Expansion of Litecoin Trust

The beginning of 2021 brought a significant expansion to Litecoin Trust. The asset manager has purchased 141,254 LTC in the last 30 days. Calculating approx US$275 million, the company now has 1.45 million LTC under management.

Litecoin is the third-largest holding of Grayscale after Bitcoin and Ethereum. Apart from Litecoin, the firm has made large investments in Bitcoin Cash and Etheruem Classic in the past few weeks. They have 289,000 Bitcoin Cash (BCH) worth $153 million, while Ethereum classic of around $140 million. Grayscale is actively looking to invest in Altcoin to provide an edge to its cryptocurrency investment portfolio. They have already invested in various other cryptocurrencies like Steller, Lumes, etc. 

The cryptomarket is drifting around $1.5 trillion in market capitalization. While Bitcoin is trading at $46,967 at the time of writing.  The second-largest cryptocurrency is trading near $1500 while “digital silver” Litecoin is trading at $171.93. 

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#BCHG (Bitcoin Cash) #Ethereum Classic #Grayscale #Grayscale Purchases #Litecoin Trust
Deepshikha Gupta
Deepshikha Gupta

A student from a technical background, Deepshikha found Bitcoin in 2020 and has been an evangelist ever since. A B.Tech turned into a full-time crypto-writer, she tries to bridge the gap that currently exists between the crypto world and people from non-technical backgrounds, through her simplistic yet effective form of writing. She finds that her writing for cryptocurrencies can redefine the way the audience interacts with the crypto space.