According to blockchain analytics platform Spotonchain, World Liberty Financial has spent $109.1 million on six cryptocurrencies in a single day.
World Liberty Financial, an asset management fund, has made significant cryptocurrency purchases, spending a total of $109.1 million on six different cryptocurrencies in a single day.
According to blockchain analytics platform Spotonchain, the fund allocated $47 million within the past hour to acquire 7,022 ETH, 174.1 WBTC, and 5.037 million ENA tokens. The total amount spent on these three cryptocurrencies was $23.5 million, $18.8 million, and $4.7 million, respectively.
Earlier in the day, the fund also purchased TRX, AAVE, and LINK for a combined total of $14.1 million. The fund's asset management strategy appears to be heavily weighted towards cryptocurrencies, with large purchases being made in TRX, ETH, WBTC, and ENA.
Cumulatively, the fund has invested $71.5 million in Ethereum alone over the past 24 hours, purchasing 21,425 ETH at an average price of approximately $3,337. Over the last three days, World Liberty Financial has systematically increased its positions across multiple assets.
In an earlier CoinGape report, the Trump project purchased 14,403 Ethereum, increasing its total ETH holdings. This substantial acquisition underscores Donald Trump’s project confidence in Ethereum. Amid a 117% surge in trading volume, ETH price rallied 9% in the last 7 days. More so, Eric Trump hinted at further investments, fueling optimism among traders.
World Liberty Financial is a fund that is permitted to make direct investments in a variety of asset classes. These classes include cryptocurrencies, growth stocks, distressed assets, and private equity. The fund is able to make these investments on behalf of its clients, who are typically high-net-worth individuals or institutions.
The fund’s recent cryptocurrency purchases are a sign of the increasing interest from institutional investors in this asset class. As the cryptocurrency market continues to mature, we can expect to see more and more institutions entering the fray.
