Metrics

Grayscale Notes Massive Demand for ETH, LTC, ZEC, XLM, and ZEN

As more institutional investors make their foray into cryptocurrency, the year 2021 will prove worthwhile. Grayscale, for example, is buying up a lot of particular crypto assets. Some are in much higher demand than others, which is only to be expected. 

Bitcoin (BTC)

It comes as no surprise that Grayscale keeps adding more BTC to its growing Bitcoin portfolio. The company’s Bitcoin Trust is a very attractive investment vehicle that seems subject to ever-growing demand among institutional traders. Grayscale added another 909 BTC to its portfolio in the past week, worth over $34 million at today’s prices. In total, the firm now holds 649,100 BTC. 

Ethereum (ETH)

Since relaunching its Ethereum Trust, demand for exposure to ETH is skyrocketing for Grayscale. A total of 83.678 ETH have been added to the holdings, valued at over $139 million today. This demand is more outspoken than gaining exposure to Bitcoin, which comes as somewhat of a surprise. The total ETH holdings have now surpassed 3 million. 

Litecoin (LTC)

It appears very few people actively pay attention to the recent Litecoin price developments. This currency that gets overlooked rather often in the crypto world has very high institutional demand. Another 56.013 LTC has been added to Grayscale’s holdings, bringing the total to 1.32 million. Litecoin also has the highest premium of all of the company’s products at 1.684.99%.

Stellar (XLM)

It may seem a bit unusual to see institutional demand for Stellar’s XLM pick up significantly. Simultaneously, the ongoing concerns regarding Ripple’s XRP may force investors’ hands a bit. For Grayscale, adding nearly 3 million XLM to the portfolio isn’t a big task. The company currently holds 56.45 million XLM, indicating they expect a significant demand for this asset. 

Zcash (ZEC)

If Crypto Twitter is to be believed, Zcash is slowly disappearing into obscurity. A bit odd, as ZEC gains 54.3% in value in the past month. Grayscale notes growing demand for this asset and allows the company to add 75,052 ZEC to its holdings. In total, the company now holds 290,660 ZEC. It will be interesting to see what happens to this crypto-asset this year.

Horizen (ZEN)

Many people tend to forget Grayscale also provides exposure to Horizen or ZEN. Although hardly anyone pays attention to this asset, it has gained 165.% in value over the past month. Grayscale’s holdings of ZEN increased by 43,738 to just under 599,000. A remarkable development and one that may bring more attention to this asset. 

Grayscale and Ethereum Classic / Bitcoin Cash?

It appears that institutional investors are not showing much interest in ETC or BCH. In fact, Grayscale has decreased its ETC holdings by 7.075 in the past week yet still owns 12.29 million ETC. 

For Bitcoin Cash, there is still a minor accumulation going on,  yet it is nearly negligible. Despite holding over 268,000 BCH, this fork is not as popular as the real Bitcoin by any stretch of the imagination. 


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JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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