Grayscale Investments Adds Another $ 100 Million in Bitcoin and Ether

The world’s largest crypto asset manager, Grayscale Investments, has added an additional $ 100 million in bitcoin and ether.

According to data collected by crypto analytics firm Bybt, Grayscale added 131,402 ethereum ($ 74 million) and 1,313 bitcoin ($ 24 million) on December 9. Both investments occurred over two 24-hour periods.

The purchase follows an earlier Bloomberg report highlighting increased institutional interest and exposure in ethereum. Grayscale managing director Michael Sonnenshein said there was a “growing conviction” around ethereum as an asset class and only identified a new group of investors interested in ethereum.

He told Bloomberg,

Ethereum’s Grayscale Trust has caught the attention of a new segment of Ethereum-focused institutional allocators. During 3Q20, over 17% of inflows into the Ethereum Grayscale Trust came from new institutional investors.

Sonnenshein reiterated that investor interest in bitcoin had not slowed down yet and suggested that the current bull run for BTC could see further action. He also said that ethereum has “the same path” of staying power with bitcoin, giving both assets a relatively favorable outlook.

According to Bybt, Grayscale’s bitcoin assets under management (AUM) total more than $ 10 billion while ethereum AUM exceeds $ 1.6 billion.

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