Grayscale Invests in 35 Million XLM, Institutional Interest in Stellar is Growing

Grayscale has been among the top institutions that have adopted cryptocurrencies over the past year to diversify their portfolio. In the last 30 days, Grayscale Investments hedge fund has acquired 35,855,625 XLM.

The company also made purchases of 243,519 ETH, 174,939 LTC, and other altcoins in the past month. The total of  LTC coins bought by Grayscale in that month add up to 80 percent of the total Litecoin mined in January. Last month, miners created 201,600 LTC overall.

In its latest purchase over the past 24 hours, Grayscale purchased 6,568,516 XLM worth $2,799,760. The investments put its net total crypto assets under management now at $30.4 billion.

Last year, Grayscale started with just $2 billion in assets under management and ended the year with more than $20 billion, representing a 900% increase.

Stellar set out in 2014, founded by Jed McCaleb to fill in the cracks between the crypto and the financial universe. Stellar started a series of partnerships in the fintech world from that point forward. The organizations incorporate IBM, Stripe, and Deloitte, and some other major institutions across continents.

Institutions like Grayscale have stepped up to invest in cryptocurrency. With its new development, Horizon 2.0’s release of its API server that is up and running, it is bound to receive more attention.

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