Grayscale Acquires Huge Amounts of Recently Added Alts: BAT, MANA, LPT, FIL, LINK

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Thu, 04/08/2021 - 14:20
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Yuri Molchan
Recently emerged analytics data states that Grayscale has added a massive amount of altcoins that it has recently used to launch new crypto trusts
Grayscale Acquires Huge Amounts of Recently Added Alts: BAT, MANA, LPT, FIL, LINK
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According to analytics website Bybt, over the past 30 days, the largest buyer of Bitcoin and other crypto assets, Grayscale, has acquired millions of altcoins that it has recently added as the basis for new trusts.

Grayscale adds eye-popping amounts of BAT, FIL, LINK, LPT, MANA

Data shared by analytics platform Bybt shows that, in the past 30 days, Grayscale Investmentsrelated to Barry Silbert's Digital Currency Grouphas purchased large amounts of altcoins, which now power the recently added cryptocurrency trusts.

The company has bought large amounts of altcoins on which the newest crypto trusts have been formed: BAT (1,454,961), MANA (7,764,159), FIL (45,051), LINK (72,668) and LPT (281,303).

Grayscale has also purchased 41,758 LTC ($9,380,517), 80,150 ETC ($1,517,267) and 5,566,271 XLM ($2,700,843).

As of today, Grayscale holds a total of $44.07 billion in crypto. This includes $36.84 billion in Bitcoin, $6.31 worth of Ethereum and $182.31 million in Bitcoin Cash.

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Image via Bybt

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Hedge Fund Behemoth Millennium Management Dips Its Toes into Bitcoin

Grayscale intends to convert its Bitcoin Trust into Bitcoin ETF

Four days ago, Grayscale Investments clarified the issue of whether it will or will not turn its leading investment productGrayscale Bitcoin Trustinto a Bitcoin exchange-traded fund (ETF).

The company confirmed its firm intention to do just that, being "100 percent committed" to it.

The timing for making it happen will depend fully on regulators' actions. The company already tried to convert its Bitcoin Trust into a Bitcoin ETF in 2016 but had to withdraw its application over the regulatory hurdles the initiative faced back then.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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