Grayscale Investments, a prominent cryptocurrency asset management firm, has recently initiated a significant move to double down on Bitcoin asset exodus. The company recently transferred $579 million worth of Bitcoin (BTC) to Coinbase, a leading cryptocurrency exchange.
This move comes at a notable juncture, coinciding with a period of market stabilization.
Details of the Latest Bitcoin Movement
Blockchain analytics firm Lookonchain took to X to outline the volume of BTC units that Grayscale Investments has transferred to its custodian, Coinbase Custody since the United States Securities and Exchange Commission (SEC) approved its spot Bitcoin application, including that of ten other Exchange Traded-Fund (ETF) issuers.
Currently, Grayscale deposited $14,487 BTC worth approximately $579 million to Coinbase Prime and $4,750 BTC worth $189.8 million to an undisclosed wallet. So far, Grayscale has deposited a total of 93,700 Bitcoin valued at over $3.8 billion according to the current ma
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