Grayscale Moves $1B in ETH to Coinbase Ahead of ETF Launch
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On July 22, Grayscale transferred $1 billion worth of Ether to Coinbase, marking its preparation for the launch of spot Ether exchange-traded funds (ETFs) in the United States. This significant move comes just a day before the anticipated start of trading for the first spot Ether ETFs on July 23.
Following this transfer, around 10% of the 292,000 ETH, valued at $3,525 each, was moved from Coinbase’s hot wallet to the Grayscale Mini Trust, identified as wallet “0xab3.” This detail was reported on July 23 by data provider iChaininfo.
