Grayscale Adds Impressive Amounts of Altcoins FIL, LINK, LPT, BAT, MANA
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Grayscale Adds Impressive Amounts of Altcoins FIL, LINK, LPT, BAT, MANA

April 9, 2021      Deepshikha Gupta

Grayscale has obtained millions of altcoins and added freshly to the new trust, from the data provided by the cryptocurrency futures trading platform Bybt. The largest buyer of Bitcoin and other crypto-assets has acquired all in no less than 30 days. Turning Bitcoin trust into Bitcoin ETF is also confirmed by the crypto giant in the latest filing with the U.S. commission.

Grayscale Add Astonishing Amounts in Altcoins 

According to the data shared by the trading and information platform Bybt, Grayscale Investment, which is related to Barry Silbert’s Digital Currency Group, has invested a significant amount in altcoins the previous month. This purchase now backs the recently added cryptocurrency trusts.

The statistics of the number of altcoins on which the newest crypto trusts have been forming, read BAT (1,454,961), FIL (45,051), LINK (72,668), MANA (7,764,159), and LPT (281,303). The company has also bought substantial amounts of altcoins investing 80,150 ETC ($1,517,267), 41,758 LTC ($9,380,517), and 5,566,271 XLM ($2,700,843). 

From the latest, Grayscale holds a total of $44.07 billion in crypto-space. Including $36.84 billion in Bitcoin, $6.31 worth of Ethereum, and $182.31 million in Bitcoin Cash.

Grayscale Confirms Conversion of BTC Trust into BTC-ETF

Not long back, Grayscale Investments was doubtful about whether it will or will not turn its leading investment product GBTC into a Bitcoin ETF. The concern results in a filing with the U.S. Security and Exchange Commission, a few days ago. Grayscale had mentioned:

“In recent months there’s been a growing number of questions around the possibility of a Bitcoin ETF in the US, and we’d like to take the opportunity to provide clarity and context on what such a development would mean at Grayscale and for Grayscale® Bitcoin Trust (Symbol: GBTC). First and foremost we wish to make clear: we are 100% committed to converting GBTC into an ETF.”

“Today, we remain committed to converting GBTC into an ETF although the timing will be driven by the regulatory environment,” it adds. 

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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.