The financial holding company Grayscale Investments, which specializes in digital assets, announced that it invested $ 90 million in Ethereum Classic (ETC).
In total, the company holds about $ 1.5 billion in crypto-currencies, of which about $ 1.38 billion is invested in bitcoin, but a rather impressive figure of $ 90 million puts ETC in second place among the company’s assets at a total cost.
This is an illustrative case, which says that the ETC becomes an asset of the level of serious institutional investors. This is due to the fact that this crypto currency has grown in price in the last year and has a direct connection with Ethereum (ETH), which is the second largest digital currency on the market. In addition, other factors play a role, for example, the growth of the capitalization of all cryptology and the increasing rate of introduction of crypto-currencies, including ETC itself.
At the time of writing, ETC was worth about $ 15. The Crypto currency has fallen somewhat recently, following the trend of the whole cryptology. Nevertheless, adding it to the listing of such exchanges as Robinhood and Coinbase served as a serious support for subsequent growth, perhaps even above $ 20. It is worth recalling that 11 months ago ETC was worth only $ 9.
Due to the growing interest in ETC by institutional investors, this crypto currency will only grow stronger. Their support will help raise the price, which will play into the hands of ordinary investors. Also this crypto currency can benefit from the success of its founder, Ethereum (ETH).