Coinbase Prime Moves $5.2 Million Worth of Bitcoin to Grayscale’s Trust
CryptoNewsTerminal Staff13 Sep, 2024
Coinbase Prime Moves $5.2 Million Worth of Bitcoin to Grayscale’s Trust
Coinbase Prime has recently transferred 88.679 BTC, valued at approximately $5.2 million, to Grayscale’s Bitcoin Mini Trust. This transaction, identified by Arkham Data, involved a large sum of Bitcoin being sent from Coinbase Prime to Grayscale’s trust, which is a popular investment vehicle for institutional investors seeking exposure to Bitcoin. The movement of such a significant amount of Bitcoin to Grayscale’s trust suggests that institutional interest in Bitcoin remains strong, despite recent market volatility. Grayscale’s Bitcoin Trust is one of the largest in the industry, with over $13 billion in assets under management. The trust provides investors with a convenient way to gain exposure to Bitcoin without having to directly purchase and store the cryptocurrency themselves.
