Grayscale Transfers $4.14M in ETH to Flow Traders

IconCryptoNewsTerminal Staff30 Aug, 2024

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Grayscale Transfers $4.14M in ETH to Flow Traders

Blockchain analytics firm ARKAM data shows that an address believed to be owned by Grayscale transferred 1,635 ETH (worth over $4.14 million) to an address linked to crypto market maker Flow Traders about 26 minutes ago. Grayscale, the world's largest digital asset manager, has been making headlines recently for its involvement in the cryptocurrency market. In June 2023, the company launched a new product called the Grayscale Ethereum Trust, which allows investors to gain exposure to Ethereum without having to buy the underlying asset. It's worth noting that the transfer of ETH from Grayscale to Flow Traders could be a sign that the company is increasing its exposure to the cryptocurrency market. Flow Traders is one of the largest crypto market makers in the world, and it provides liquidity to a variety of digital asset exchanges. Overall, the transfer of ETH from Grayscale to Flow Traders is a significant development that could have implications for the cryptocurrency market. It's a sign that institutional investors are becoming more involved in the space, and it could help to increase the liquidity and stability of the market.

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