According to a recent post on X by Ash Crypto, Grayscale has acquired Ethereum worth approximately $11,980,000, reflecting increased market action and inflow count in the ETF panel. This has triggered it rank to the third position in terms of net assets, totaling $889.61 million.
After the recent Grayscale purchase, the product has cumulative inflows amounting to $616.98 million. ETH’s market price is at $17.38, gaining 3.27%, and its daily trading volume is $36.13 million.
Institutional Interest Boosts Ethereum
This substantial Ethereum acquisition by Grayscale indicates strong institutional activity in digital assets. To further support this, the recent massive acquisition by Grayscale has caused a general market movement in all ETH ETFs. To track the current reaction, SoSoValue updates on May 1 notes that the daily net inflow for Ethereum products totals $6.49 million, bringing cumulative inflows to $2.49 billion.