Crypto Hedge Fund Grayscale has recently added $2 billion worth of Bitcoin in crypto on the dip while cryptocurrency outflows from the firm were witnessed. As of June 14, Monday, Grayscale Investments shared that the total amount of crypto managed by the team made up $35.5 billion.
Grayscale Investments Buys Bitcoin Worth $2 Billion
On June 11, Friday, the company shared that the overall worth of assets under management of the firm stood at $35.5 billion. In the meantime, the firm keeps witnessing outflows from its cryptocurrency trusts with the GBTC worth 23,298 Bitcoins to be unlocked later this week.
It was revealed in the table shared by the company in a tweet that the DCG subsidiary Grayscale of Barry Silbert has bought $2 billion worth of Bitcoin, Ethereum, LINK, Livepeer, Bitcoin, Zcash, and many more over the weekend.
In addition to this, it should be noted that Bitcoin has managed to recapture the level of $40K, and now Bitcoin and other cryptos Grayscale holdings in its trust are worth a lot more.
Investors Continuing to Contribute to Outflows
As per the recent demand of the firm, it wants the investors to lock their shares based on Bitcoin purchased in the company for a period of six months, and following that, they are allowed to release their holdings for selling them in the open market.
Moreover, the data provided by a leading market analyst service suggest that withdrawals from the trust continued. However, Livepeer and Litecoin were the only coins that have witnessed inflows on a 24-hour, weekly, and monthly basis.
Talking about other shares in the market, the investors have been mostly withdrawing their shares apart from the ZEC and the recently included cryptocurrency trusts of FIL, LINK, LPT, and MANA.
Also, Colin Wu revealed the intentions of the firm planning to unlock a gaping amount of GBTC worth 23,298 Bitcoin later this week.
