Gwyneth Paltrow Is Invested in Ethereum, Apecoin: Here's How Much She Gained From Last Month's Rally

Academy Award-winning actor Gwyneth Paltrow has been known to be a vocal proponent of cryptocurrencies and even maintains a sizable portfolio of digital assets. Recent market moves gave a significant boost to her holdings.

What Happened: The market rallied strongly over the last month, buoyed by spot Ethereum ETH/USD ETF approvals and an energetic pro-cryptocurrency campaign by former President Donald Trump.

The upsurge caused Paltrow's cryptocurrency investments to surge to $15,085 at the time of publication, data from Arkham Intelligence showed.

The largest holding in her portfolio is Apecoin APE/USD, a cryptocurrency linked with the popular NFT collection Bored Ape Yacht Club. 

The coin rose nearly 9% over the month, taking the total value of her 10K-strong APE portfolio to $13,530. 

The ‘Iron Man' star also holds around 0.448 Ethereum ETH/USD. With a 22% spike in the cryptocurrency over the month, the value of her holdings hit $1.71K.

Overall, Paltrow's holdings gained more than a million due to the uptick, reflecting an increase of 7%.

Why It Matters: In the past, Gwyneth Paltrow has used her lifestyle brand Goop to prompt cryptocurrency adoption. She urged people to buy cryptocurrencies from Abra, a Bitcoin BTC/USD wallet startup where she joined in an advisory role.

She even tweeted a Bitcoin-related Q&A, showcasing her commitment to educating her followers about the digital asset.

Celebrity endorsements can have a profound impact on the mainstreaming of cryptocurrencies. With popular names comes a degree of trust, helping to drive awareness about the coin, and technology in general.

Read Next: The Death Cross: Utah Women ‘Ordered’ A Murder Using Bitcoin, Due To be Sentenced In July

Photo via Shutterstock

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