Top Highlights

• Grayscale's transaction of $1.01 billion to Coinbase Prime on Wednesday prompted market participants to suggest Grayscale might be preparing for a sell-off to reinvest in another crypto, such as Solana.
• Jon Campagna, managing partner at crypto hedge fund Nexyst Digital and formerly associated with Coinfund and Blackrock, dismissed these claims in a Tuesday post on X, saying Grayscale is unlikely to reallocate its Ethereum holdings.
• To facilitate the move, the asset manager transferred $1 billion, or 10% of their $10 billion AUM in ETHE, to Coinbase Prime, as announced a week earlier by Grayscale, Campagna wrote.
• Matt Hougan, chief investment officer at Bitwise Asset Management, has said Ethereum could reach as high as $5,000, Decrypt previously reported.
• Grayscale Shifts $1 Billion in Ethereum to Coinbase Ahead of US ETF Trading Debut

Domain