Recently, Grayscale Investments – a digital currency investment company – announced an investment worth $90 million in Ethereum Classic (ETC) holding, making it one of the most substantial digital currency investments made by an institutional investment company.
According to a statement released by the firm on their official site, the firm believes that certain digital currencies have the ability to “revolutionize legacy systems across industries and countries all over the world,” and in doing so “enhancing future economic growth, by providing the fundamentals to global, digital economy.”
Grayscale Has A Gigantic Portfolio
Out of the $1.5 billion investment made by the firm in digital currencies, a greater percentage of the investment, about $1.38 billion, is in Bitcoin (BTC). Nevertheless, the $90 million investment that the firm made in Ethereum Classic (ETC) is still significant.
Entrycoins – the digital currency which investors buy with fiat to started crypto trading, particularly in Ethereum and Bitcoin – have been the most notable digital currency investment options for conventional institutional investment companies.
Ethereum Classic (ETC) has undergone an intense growth over the past months. Some investors are tired of the notoriously huge fluctuations in the value of bitcoin BTC, and they have opted for ETC as a safer digital currency to hold.
Grayscale Investment is not the only investment company that has shown a great interest in Ethereum Classic (ETC), other large institutional investors are also likely to come the way of Ethereum Classic (ETC) as a result of this investment. A couple of investments of such magnitude could pump the value of ETC enough to start a prolonged climb.
Ethereum Classic (ETC) Price Today – ETC / USD
At the time of writing, Ethereum Classic (ETC) is changing hands at $13.4 after an increase of about 0.25 percent over the past twenty-four hours. The current market cap of the digital currency is $1.38 billion and its trading volume over the past twenty-four hours is $245.44 million.