RATE Group | Grayscale to Conduct One of Largest Single Day Crypto Transfers
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Grayscale to Conduct One of Largest Single Day Crypto Transfers

02 Aug Grayscale to Conduct One of Largest Single Day Crypto Transfers

Posted at 21:05h in Cryptocurrency News by

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Today, digital asset management fund Grayscale Investments will transfer nearly $3 billion worth in cryptocurrency holdings to American major crypto wallet provider and exchange exchange Coinbase.

Largest single crypto transfer?

As Forbes reported on Aug. 2, Grayscale is going to move almost $3 billion worth of its digital currency holdings, including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), and Ripple (XRP), among some other tokens, to Coinbase, wherein Coinbase Custody will serve as custodian of the underlying assets for the company’s products.

Together with its cryptocurrency holdings, Grayscale will transfer its publicly quoted cryptocurrency trusts and its Grayscale Digital Large Cap Fund to Coinbase. The transfer will thus apparently be one of the largest single day transfers of crypto assets ever conducted.

Commenting on the deal, Sam McIngvale, Coinbase Custody chief executive, said:

“As a NY State-chartered trust company, Coinbase Custody is held to…

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