Grayscale Sends $103.4 Million in BTC, ETH to Flow Traders
CryptoNewsTerminal Staff16 Sep, 2024
Grayscale Sends $103.4 Million in BTC, ETH to Flow Traders
Blockchain analytics firm Arkham Intelligence (ARKM) has detected significant cryptocurrency transfers from entities presumed to be managed by Grayscale. Approximately four hours ago, a presumed Grayscale address (bc1q4p) transferred 119.01 BTC (worth around $7.01 million) to a Flow Traders address (beginning with bc1qn). Around the same time, a presumed Grayscale Coinbase Prime Custody address (0xf7EC) also sent 1,449 ETH (approximately $3.33 million) to a different Flow Traders address (0x79D4). The latest development follows a recent trend of large cryptocurrency transfers involving Grayscale, with the company reportedly exploring options to offer redemptions in its Grayscale Bitcoin Trust (GBTC).
