Digital asset investment firm Grayscale Investments has continued to acquire Bitcoin in 2021, adding 995 BTC to its holdings in the latest purchase by the fund manager.
Data from Bybt.com shows that the firm bought 995 Bitcoin, and over 10,000 Litecoin and Ethereum Classic tokens in the past 48 hours.
Grayscale also purchased 1787 Bitcoin Cash to round up the additions to its various funds. The firm’s total assets under management is now sitting at over $25bln according to Bybt’s data, while Grayscale tweeted its latest update of its holdings which it valued at $26.6 bln.
Grayscale’s Bitcoin holdings are a significant contributor to its overall holdings, with its roughly 647,000 BTC valued at $21 bln. Grayscale’s Ethereum trust is currently valued at over $4.1 bln, holding over 2.9 mln ETH.
XRP trust liquidation
The investment firm also announced the dissolution of its XRP Trust following the initiation of legal proceedings against Ripple by the US Securities and Exchange Commission in late 2020. The SEC alleges that Ripple carried out an unregistered security offering of XRP over the past six years.
Grayscale liquidated its XRP holdings midway through January and will dissolve the XRP Trust over concerns around the difficulty of being able to convert the cryptocurrency into US Dollars in the near future.
At the beginning of December 2020, before the SEC’s lawsuit against Ripple had come to light, the Grayscale XRP Trust was worth $22.8mln. This was the highest valuation of the Trust that month.
When it sold its XRP holdings, Grayscale indicated that it would share the net proceeds to shareholders of the trust.