According to @OnchainDataNerd, the GSR wallet on Binance received 3.5M $APE (~$1.8M) from wallet 0xFfd, which were originally transferred from Coinbase Custody and sourced from Ape's treasury. This follows a previous transfer of 1M $APE to GSR from the same wallet three weeks prior, suggesting ongoing significant movements of $APE tokens that could indicate market activity or strategic positioning by GSR.

According to Dave (@ItsDave_ADA), Grayscale has appointed Coinbase Custody Trust Company as the custodian for the fund's assets, ensuring the secure storage of its digital holdings. Additionally, BNY Mellon Asset Servicing will act as the administrator of the fund. This structured approach may enhance investor confidence by ensuring asset security and professional fund administration, potentially impacting trading volumes and market sentiment.