Grayscale Open Doorways Once more To Ethereum Traders From BTC Friends
Grayscale opens doors again for Ethereum investors
After the world’s largest crypto asset manager Grayscale temporarily closed its doors to new investors last December, it is ready to make new investments in its trust (ETHE). As a result, accredited investors can invest in the second largest digital asset by market capitalization without having to deal with storage, security or regulatory hurdles. A move that is likely to see more institutional funding flow into Ethereum.
Just last week, the Crypto Asset Manager registered to open five more listed trusts. Registration does not guarantee a product launch, but it does indicate that big money players may be interested in diversifying their portfolios. Grayscale’s ETH assets under management amount to nearly $ 4 billion.
02/01/21 UPDATE: Net assets under management, stocks per share and market price per share for our investment products. Total AUM: USD 26.4 billion BTC $ BCH $ ETH $ ETC $ ZEN $ LTC $ XLM $ ZEC pic.twitter .com / ByVpHgfZLm
– Grayscale (@Grayscale) February 1, 2021
It’s no surprise investors are turning to Ethereum for the next viable option. With many feeling like the Bitcoin train has already moved, Ethereum seems like the next logical option on the list. Grayscale’s Ethereum Trust has grown by over $ 3 billion in the past 50 days.
As BTC PEERS reported in December, the company’s managing director, Michael Sonnenshein, noted that there was an influx of new “Ethereum-only investors”. He said:
Over the course of 2020 we will see a new group of investors who will be Ethereum first and in some cases just Ethereum. ETH as an asset class is growing steadily. The development of the asset class has further consolidated.
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