The Return of Grayscale
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Chart of the Day
Spotlight on Grayscale after the company said that it has increased Bitcoin holdings by over 40,000 BTC since the start of this year, surpassing the total number of newly minted bitcoins, which is around 26,000 BTC. The gap between diminishing supply and increasing demand from the likes of Grayscale has materialized into the largest sustained decrease in Bitcoin’s liquid supply since its inception. The demand pressure from retail and institutional investors will most likely set new price floors at higher levels, which is, no doubt, a bullish sign.
Talk of the Town
The talk of the town gravitates — yet again — towards Grayscale, who has just reopened its Ethereum Trust (ETHE) to accredited investors, after keeping its doors shut for more than one month. As of the end of January, ETHE has bagged a staggering $4 billion in assets under management. ICYMI: Grayscale has also registered several new cryptocurrency trusts linked to the DeFi space.