Grayscale Investments, a crypto-focused investment fund, reported today that it has $90 million in Ethereum Classic (ETC), the open-source, public, blockchain-based distributed computing platform that features smart contract functionality, leading up to its listing on Coinbase.
— Grayscale (@GrayscaleInvest) August 7, 2018
According to a recent tweet, the firm now has over $1.5 billion in digital assets through its investment products targeting institutional and accredited investors. This number is up from the $1.4 billion reported in July. While bitcoin (BTC) makes up ~$1.38 billion of total assets, Ethereum Classic (ETC) is notably the second largest holding of the firm.
This is likely due to a combination ETC purchases and the significant price run that took the coin from $14 to recently surpassing $20 with a market cap over $2 billion for a short period. Now, ETC is ranked 11th in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens, after surpassing major cryptocurrencies including NEO (NEO) and Monero (XMR).
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.