Leading cryptocurrency fund Grayscale has recently added popular altcoins such as XLM, MANA, BAT, and LINK worth $2.5 billion. However, the Barry Silbert-led Digital Currency Group subsidiary Grayscale Investments has been decreasing Bitcoin holdings from its portfolio.
Grayscale Investments Purchases Altcoins Worth $2.5 Billion
As per a report published on April 27 by a leading analyst in the crypto market, Grayscale has added $2.5 billion in digital currencies and is holding $45.5 billion worth of crypto. These are altcoins that have been added to the portfolio of the cryptocurrency fund.
In addition to this, the data shows that the fund has been reducing their investments from Bitcoin and Ethereum, and other currencies as well.
A leading analytics service provider released data that revealed that over the past week, Grayscale Investments has purchased large amounts of XLM, MANA, LINK, BAT, and other altcoins.
Crypto Fund Invests XLM, MANA, BAT, LINK, and Altcoins, Dumps Bitcoin and Ethereum
The fund has reportedly increased its holdings in the form of altcoins such as XLM, MANA, BAT, LINK, and other altcoins.
As a matter of fact, the fund has added (277,931) XLM, (102,183) MANA, (34,506) LINK, (78,014) BAT, and other notable altcoins.
In addition to this, it should be noticed that the purchases of MANA add up to another 20,709 coins in just 24 hours.
As revealed in the data, the fund has reportedly sold over 1,149 Bitcoin in the past months, dumped 251 BTC in just a matter of weeks, and 35 BTC in the last 24 hours.
Not only Bitcoin, but the fund is also reducing its Ethereum holdings selling 6,951 ETH in the past month, 1,519 in the past week, and 217 in the past 24 hours.
Additionally, this has also been happening with Ethereum Classic and other altcoins such as LTC and BCH in a period of just 24 hours.
The Grayscale Bitcoin Trust has been trading at a negative premium of -9.34%.