The Grayscale fund adds another $0.5 billion in losses in Bitcoin and other cryptocurrencies.
Grayscale Investments, the largest crypto fund, a subsidiary of Barry Silbert’s Digital Currency Group, announced that its crypto assets shrank by another half billion US dollars on June 25, compared to $29.5 billion the day before.
Grayscale sees more exits
According to data provided by Bybt, the company’s crypto holdings are falling as outflows from crypto funds continue.
This is especially true for Bitcoin Trust, Ethereum Trust and ETC Trust, whose shares are traded at a discount.
However, inflows to the company’s altcoin funds continue on a weekly and monthly basis.
The company is considering expanding its presence in the altcoin market
As reported earlier this month, the largest crypto asset management firm Grayscale has announced that it is considering setting up more funds based on new altcoins.
Considered cryptocurrencies include cryptocurrencies such as 1 INCH, Bancor (BNT), Curve (CRV), Internet Computer (ICP), Kava (KAVA), Kyber Network (KNC), Polygon (MATIC), Ren (REN), Solana (SOL). assets exist.
Bitcoin drops 7% from $32,000 to $30,000
Bitcoin price dropped as low as $30,000 but then recovered somewhat.
Today, the biggest cryptocurrency, BTC, has lost another 7 percent, falling from $32,000 to $30,000. On Friday, Bitcoin was trading in the $35,000 region.
So far, Bitcoin has recaptured some of today’s losses and the negative outlook remains as it tries to hold on to $31,158.
The largest altcoin Ethereum was trading at $1,755 at the time of writing.