grayscale halts new bitcoin and ethereum investments
grayscale investments, the largest cryptocurrency investment fund, has stopped accepting new investments in bitcoin and ethereum funds.
new investments in bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin and digital large cap fund trust are currently not available, the crypto asset manager’s website said.
grayscale made a similar decision, most recently in the fourth quarter of 2019.
there have been huge inflows into grayscale funds recently. bybt data shows that 45 thousand 879 btc, 342 thousand 348 eth, 157 thousand 732 ltc 20 thousand 463 etc, 43 thousand 484 bch were received in the last 30 days. the amount contained in grayscale’s bitcoin fund is 572 thousand 640 btc, which corresponds to 3 percent of the circulating supply. the value of these btcs in dollars also makes 13 billion 300 million dollars.
analysts at us banking giant jp morgan had written to grayscale that a slowdown in bitcoin inflows could increase the likelihood of a drop in the price of bitcoin.
bitcoin, the largest cryptocurrency by market value, finds buyers at $ 23,200 at tsi 20.10, when the news broke.