Grayscale Investments is the largest crypto asset manager. In particular, the firm’s total crypto AUM (assets under management) has reached over $50 billion this week, according to Finance Magnates. Citing the company’s announcement on Twitter, the source says Grayscale now manages over $41 billion in Bitcoin, as the BTC price crossed the mark of $64,500 yesterday, April 14.

TIME Magazine’s decision to keep BTC on its balance sheet comes after similar moves by other companies. For instance, MicroStrategy’s reported Bitcoin holdings were 91,579 BTC on April 5. Moreover, just this week the company even decided to pay its board of directors in Bitcoin.

Automaker Tesla purchased $1.5 billion worth of Bitcoin this year. Now, the value of its Bitcoin holdings reached over $2.5 billion because of the BTC price increase, TheStreet reports. Moreover, the company also announced last month that it would be accepting BTC for payment for its cars and keep crypto without converting it into fiat.

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According to the source, the ratio has seen a steady decline from the 27% recorded over a year ago. Back then, the price of ETH was about $110 per coin. However, cryptocurrency markets experienced growth in the past few months. Moreover, several institutional investors showed their interest in Ether, buying large amounts of crypto.

The decrease in the supply of Ethereum could lead to an increase in the price of the token. In particular, a crypto analyst Lark Davis even suggests an increase by 400%, writes The Daily Hodl.

A Chinese beauty app maker Meitu purchased Ethereum worth $28.4 million on March 17, adding to its previous purchase of $22.1 million in ETH on March 5. Grayscale investments also invested in Ethereum, having bought 243,519 ETH in February. Moreover, the company’s Ethereum Trust continues to acquire additional ETH.

Ethereum is the second-largest cryptocurrency on CoinMarketCap.com, with a market cap of over $207 billion and a 24-hour trading volume of over $19 billion. It is trading at around $1,802 per coin at the time of writing.

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EIP 1559 upgrade will cut down the supply of Ethereum tokens by destroying outstanding ETH each time users make a transaction on the network. Cryptocurrency experts expect that limiting Ether’s maximum supply will drive the price of the token higher, according to the source.

Ethereum is a network that has many other applications besides cryptocurrency. For example, these include DeFi, non-fungible tokens (NFTs), smart contracts, decentralized apps, and decentralized autonomous organizations (DAOs).

Recent large investments in Ether showed the interest of institutions in the altcoin market. Grayscale Investments purchased 243,519 ETH in February, along with buying other coins such as Litecoin and Stellar Lumens. Moreover, a Chinese AI-driven beauty app maker Meitu invested $22.1 million into ETH last week.

The total supply of Ether is infinite, and its total circulating supply is over 114.97 million tokens. Ether’s market cap is around $210 billion at the moment of writing, according to CoinMarketCap.com data.

ETH price is up over 8% in the past 24 hours and over 149% above its closing price on the last day of 2020. At the time of writing, the token is trading at around $1,814.

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Meitu is a company founded in 2008 specializing in AI-driven technologies for photo and video processing. They released several beauty apps and have a listing on the Hong Kong Stock Exchange since 2016. Years later, now Meitu apps have a large user following, both in China and internationally.

With the $40 million investment, the beauty app maker joined a number of companies that already invested in cryptocurrency. A month ago, Tesla revealed the purchase of Bitcoin worth $1.5 billion in the annual SEC filing. Shortly after, Square and MicroStrategy increased their Bitcoin investments, with these companies buying 3,318 and 19,452 Bitcoins, respectively.

Despite the Bitcoin hype among institutional investors, Meitu’s investment in altcoin Ether is also substantial. However, it is not the only company that invested in crypto other than Bitcoin. For instance, Grayscale Investments also recently purchased altcoins, including Ether, Litecoin, and Stellar Lumens.

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ETH has seen about 5% growth in the past 24 hours and is trading at around $1,600 at the time of writing. Litecoin’s price has increased by about 7% in the past 24 hours and the coin is trading at around $195. Stellar’s price has increased by about 2.8% and it is currently trading at $0.43.

Grayscale is a company providing investment products for digital currency investing since 2013. Last week, it announced the interest in expanding its product offerings by considering 23 cryptocurrencies, as per a press release.  

Lately, interest in cryptocurrencies has been growing among institutional investors. Several large organizations either expanded their crypto holdings or purchased Bitcoin for the first time. Tesla invested $1.5 billion into Bitcoin while MicroStrategy’s total investment has already reached 90,859 BTC.  

Bitcoin is slowly recovering from the dip to around $44,000 on February 28. It is trading at about $52,300 at the time of writing.

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