Digital Currency Group (DCG), Grayscale’s parent company, gears up to purchase shares of the Grayscale Ethereum Classic Trust (OTCQX: ETCG) with a valuation up to $50 million using the company’s cash, based on the company’s recent announcement on Monday.
DCG can acquire any specific number of these shares in any period, and “may be expanded, extended, modified, or discontinued at any time.”
The purchase will depend on the timing and available cash.
Barry Silbcrt-affiliated Grayscale Investments has declared it has $34-7 billion worth of crypto under custody, which is $0.5 billion increase from its last hold of $34 2 billion.
From the data shown by analytics platform Bybt, Grayscale Bitcoin Trust and Other Crypro sees massive investors outflows.
Grayscale’s LINK Trust and also MANA, LPT, LINK, BAT and FIL have aslo seen inflows of 753 in just seven days ago.
Grayscale Investments bought more of MANA, LPT, LINK, and FIL altcoins to add to its Cryptocurrency fund.
Mana is the altcoin with the biggest amount purchased, this means that it has purchased 16,710 MANA tokens.
Grayscale has been buying more of these tokens in the last 30 days.
The Investment Giant now has a total amount of crypto assets under management worth $51.41 billion, according to data from ByBt.