Grayscale to move billions of dollars in bitcoins, XRP, Ethereum and Litecoin from Ripple to Coinbase in one of the largest cryptographic transfers ever made

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Bitcoin and Cryptocurrency Asset Manager Grayscale Investments plans today to transfer billions of dollars in badets to the US supplier of encrypted portfolios and the Coinbase trading platform, as part of what could be one of the largest transfers in a day bitcoins and cryptographic badets so far.

Grayscale, which is considered the world's largest badet manager for bitcoins and digital currencies, today announces that Coinbase Custody will serve as the depository for the underlying badets of its products and is expected to transfer today. Nearly $ 3 billion in badets in less than 12 hours. at Coinbase.

Coinbase Custody, which is an autonomous self-owned company owned by Coinbase, will now oversee Grayscale's cryptocurrency holdings, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple, among other major brands, as well as the public list of Grayscale. Crypto-currencies and its Grayscale Digital Large Cap Fund, which offers exposure to bitcoin and crypto through a market capitalization-weighted portfolio.

"Grayscale and Coinbase have led the way in providing secure, secure, reliable and regulated access to digital resources." Grayscale is an established, reliable and valuable partner for its customers and service providers should be the same, "said Sam McIngvale , Head of the Custody Coinbase.

"As a chartered trust company of the State of New York, Coinbase Custody meets the same fiduciary standards as domestic banks.We also offer one of the largest and most comprehensive insurance coverage. the most complete cryptography sector. "

The move comes as Investors in bitcoins and cryptocurrency are nervously seeking clues about the reaction of global regulators to Facebook's plan to launch its own cryptocurrency next year, Balance doubled.

Hope that some of the largest companies in Silicon Valley, including the Apple iPhone manufacturer and Twitter microblogging platform, are turning more and more to bitcoin and crypto-currencies as a potential source of revenue has been largely responsible for the rise in the price of bitcoin so far this year.

Earlier this month, the group based in New York Grayscale: 2.7 billion USD badets under management., an absolute record for the company and three times higher than in the previous quarter.

Last month, Coinbase, the largest US cryptocurrency and wallet exchange service, boasted Since its launch in 2012, 30 million users have been recruited in the last 12 months.

Meanwhile, Grayscale noted last week that more than a third (36%) of US investors would consider buying bitcoin, representing a potential market of more than 21 million investors..

"Since its introduction in 2009, the popularity of bitcoin has steadily grown and it has now extended its reach to a wider audience," said Grayscale.

"Investors are constantly looking for new ways to diversify their portfolios, as traditional badets and markets have begun to get closer and closer."

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Bitcoin and Cryptocurrency Asset Manager, Grayscale Investments, is now planning to transfer billions of dollars in badets to the US supplier of encrypted portfolios and the Coinbase trading platform, in what could be one of largest single-day transfers of bitcoins and crypto badets.

Grayscale, which is considered the world's largest badet manager for bitcoins and digital currencies, today announces that Coinbase Custody will serve as the depository for the underlying badets of its products and is expected to transfer today. Nearly $ 3 billion in badets in less than 12 hours. at Coinbase.

Coinbase Custody, which is an autonomous self-owned company owned by Coinbase, will now oversee Grayscale's cryptocurrency holdings, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple, among other major brands, as well as the public list of Grayscale. Crypto-currencies and its Grayscale Digital Large Cap Fund, which offers exposure to bitcoin and crypto through a market capitalization-weighted portfolio.

"Grayscale and Coinbase have led the way in providing secure, secure, reliable and regulated access to digital resources." Grayscale is an established, reliable and valuable partner for its customers and service providers should be the same, "said Sam McIngvale , Head of the Custody Coinbase.

"As a chartered trust company of the State of New York, Coinbase Custody meets the same fiduciary standards as domestic banks.We also offer one of the largest and most comprehensive insurance coverage. the most complete cryptography sector. "

The move comes as investors in bitcoins and cryptocurrencies nervously seek clues about the reaction of global regulators to Facebook's plans to launch its own cryptocurrency over the next year, called Libra.

Some of Silicon Valley's largest companies, including the iPhone maker and the Twitter microblogging platform, are increasingly interested in bitcoin and cryptocurrencies as a potential source of revenue. , which largely explains the rise in the price of bitcoin since the beginning of the year.

Earlier this month, Grayscale, based in New York, announced $ 2.7 billion in badets under management, a historic record for the company and a three-fold increase over the previous quarter.

Last month, Coinbase, the largest US cryptocurrency and wallet exchange service, boasted Since its launch in 2012, 30 million users have been recruited in the last 12 months.

In the meantime, Grayscale revealed last week that more than a third (36%) of US investors would consider buying bitcoin, representing a potential market of more than 21 million investors.

"Since its introduction in 2009, the popularity of bitcoin has steadily grown and it has now extended its reach to a wider audience," said Grayscale.

"Investors are constantly looking for new ways to diversify their portfolios, as traditional badets and markets have begun to get closer and closer."