Grayscale, the world’s largest crypto asset management firm, is on a buying spree after purchasing massive amounts of cryptocurrencies to the tune of $1 billion in just 24 hours.
In a tweet posted on April 9th, Grayscale revealed that its total assets under management (AUM) stands at $46.1 billion.
A day earlier, Grayscale announced in a separate tweet that it held a total of $45.1 billion in crypto assets, indicating that the crypto asset manager grew its holdings by 10 figures within 24 hours.
News of Grayscale’s growth arrives amid its accumulation of crypto assets other than Bitcoin (BTC) and Ethereum (ETH), two coins that make up over 97% of the company’s holdings.
Data from the cryptocurrency futures trading and information platform Bybt shows that Grayscale increased its holdings in four altcoins over the past 30 days. In the past month, Grayscale bought 36,215 Litecoin (LTC), 5,566,271 Stellar Lumens (XLM), 23,105 Zcash (ZEC), and 923 Bitcoin Cash (BCH).
As for Bitcoin, 1,004 BTC flowed out of the Grayscale Bitcoin Trust (GBTC) in the last 30 days while the Grayscale Ethereum Trust (ETHE) witnessed an outflow of 1,363 ETH in the same timeframe.
Last month, Grayscale revealed that it plans to offer clients exposure to five crypto assets: Brave Browser’s token (BAT), Chainlink oracle’s LINK, Dentraland’s MANA gaming token, decentralized data storage solution Filecoin (FIL) and video streaming network Livepeer (LPT).Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Featured Image: Shutterstock/Tithi Luadthong