Grayscale Buys 100,000 ETH – Trustnodes

Grayscale Buys 100,000 ETH

0

Grayscale ethereum purchases, Feb 2021

Grayscale has bought 104,990 eth this week since Tuesday, bringing their total holdings to three million eth, worth $5 billion.

In just the past four days they’ve bought $177 million worth of eth, an apparent acceleration as in December they were buying about $100 million eth a week.

They’ve already doubled that, and a week as measured by Grayscale has still a few days to go until Tuesday.

Therefore we may see a considerable increase, but that was to be expected due to pent up demand.

Grayscale temporarily suspended new customers prior to Christmas, opening them up again just this month.

The same happened for bitcoin and there on the first week of opening we saw $1 billion purchased, but in the second week it went down to $255 million.

We’ll find out on Tuesday what’s happened since, but interestingly eth’s weekly volumes have already doubled while for bitcoin at this stage it was still at about the $500 million it was handling in December.

So suggesting there is maybe more demand for eth proportionally speaking, with demand from sophisticated and usually rich investors clearly increasing as Grayscale resumes normal operations for accredited investors.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Trustnodes