Grayscale Shifts $7.49 Million in ETH to Coinbase Prime
CryptoNewsTerminal Staff06 Sep, 2024
Grayscale Shifts $7.49 Million in ETH to Coinbase Prime
Grayscale Investments, the world's largest digital asset manager, has transferred 3,127 ETH (worth approximately $7.49 million) to Coinbase Prime, a custodial service for institutional investors, according to data from Arkham Intelligence. The transaction, which took place on January 17, 2023, is the latest in a series of large ETH transfers by Grayscale. In December 2022, the company moved over $100 million worth of ETH to Coinbase Prime, and in October 2022, it transferred over $1 billion worth of ETH to the same address. The reasons for Grayscale's recent ETH transfers are not entirely clear, but some experts believe that the company may be preparing for a potential increase in demand for ETH in the coming months.
