cryptocurrency

Grayscale welcomes back Ethereum investors

Published

2 years ago

03/02/2021

Grayscale Now Owns More Than 3% of Bitcoin's Total Supply

After temporarily shutting its doors to new investors in December last year, popular crypto asset manager, Grayscale, has decided to welcome new investment to its Ethereum Trust (ETHE). As a result of the new development, accredited investors will be able to gain exposure to the second-largest digital asset by market cap without having to struggle with security, storage, or other regulatory hurdles. And this will, in turn, increase the institutional fund inflow to Ethereum.

Last week, the crypto asset manager (Grayscale) also registered to open five more publicly-traded trusts. Although the registration does not guarantee a product launch, it is a sign that “big money” players may be interested in diversifying their portfolios. As for Ethereum Trust, Grayscale disclosed that ETH assets under management have grown to $4.5 billion within the last 50 days.

Grayscale adds 24,796 $ETH worth $37.8 million over the past 24 hours, bringing their total ETH AUM to $4.5 billion.

Chart: @bybt_com pic.twitter.com/D2c1z03eh5
— Bloqport (@Bloqport) February 2, 2021

Grayscale’s total assets under management within the last 24 hours:

02/02/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

Total AUM: $27.5 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/B4nP4jNRqE
— Grayscale (@Grayscale) February 2, 2021

Ethereum-only investors in Grayscale

It is no surprise that investors are turning to Ethereum as the next viable option after Bitcoin. While Bitcoin remains a valid investment option, Ethereum appears to be the next logical option due to its market cap and overall market sentiments surrounding it.

Grayscale welcomes back Ethereum as ETH surges in price

According to BTC PEERS in December, the firm’s managing director, Michael Sonnenshein, attested to witnessing an influx of new Ethereum-only investors. He also noted that the new group of investors included both Ethereum-first and Ethereum-only in some cases. In all, there is a growing conviction around ETH as an asset class. And its development has contributed to the recent increase in global crypto adoption.

Crypto Discussion Group

Ethereum (ETH) price is also blazing guns, hitting its new all-time high above $1550 and surging more than 13%. As expected, the world’s second-largest cryptocurrency has finally given a breakout about its previous all-time high. However, the journey has just started and as industry observers estimate, ETH is eyeing $1800 levels as its next target.