Coinbase Prime Transferred 3.86 Million ETH to Grayscale Ethereum Trust

IconCryptoNewsTerminal Staff23 Aug, 2024

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Coinbase Prime Transferred 3.86 Million ETH to Grayscale Ethereum Trust

According to blockchain analytics firm Arkham Intelligence, 1431 ETH, valued at $3.86 million, was transferred from a Coinbase Prime address to a Grayscale Ethereum Trust (ETH) address six hours ago. The transaction was identified and reported by Arkham on its Twitter account. This movement of funds suggests that a large investor or institution may be increasing their exposure to Ethereum through Grayscale's Ethereum Trust. Grayscale is a popular investment vehicle for digital assets, providing investors with exposure to cryptocurrencies without having to directly purchase and store them.