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Grayscale Ethereum Trust (OTCMKTS: ETHE) is moving up steadily since a brief dip below $100 per share as crypto stocks heat up across the board. With recent highs of $259 Grayscale is quickly gaining the interest of investors and has emerged as a volume leader in small caps in recent months.
Grayscale Investments is the world’s largest digital currency asset manager, with more than $4.1B in assets under management as of July 15, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly.
Grayscale Ethereum Trust (OTCMKTS: ETHE) is the world’s largest digital currency asset manager, with more than $2.2B in assets under management as of March 31, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors.
Grayscale’s investment products are available to institutional and individual accredited investors through their respective periodic and ongoing private placements. Grayscale’s single-asset investment products provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC). Additionally, Grayscale’s diversified investment product, Grayscale® Digital Large Cap Fund, provides exposure to the top digital currencies by market capitalization. As of March 31, 2020, Grayscale had approximately $2.2 billion in assets under management across its family of 10 products. Additionally, secondary markets exist for four of Grayscale’s products as Grayscale Bitcoin Trust (OTCQX: GBTC), Grayscale Ethereum Trust (OTCQX: ETHE), Grayscale® Ethereum Classic Trust (OTCQX: ETCG), and Grayscale Digital Large Cap Fund (OTCQX: GDLC) are publicly-quoted and available to all individual and institutional investors on the OTCQX® Best Market.*
Greyscale recently reported 1Q20 Grayscale Digital Asset Investment Report, a comprehensive report that highlights investment activity across the Grayscale family of products. During the first quarter of 2020, Grayscale raised $503.7 million into its investment products, marking the largest capital inflow in a single quarter in the firm’s history.
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Grayscale® Bitcoin Trust continued to lead investment demand, with record inflows of $388.9 million in 1Q20. The first quarter was also notable as Grayscale Bitcoin Trust became an SEC Reporting Company in January. Demand for other Grayscale products grew significantly in the first quarter, with demand for Grayscale® Ethereum Trust more than doubling quarter-over-quarter. The majority of investment continued to come from institutional investors, accounting for 88% of investment in 1Q20. Additionally, more investors continue to broaden their digital asset exposure, with 38% of investors having now invested in multiple Grayscale products.
On July 20 Grecyscale announced Shares of both Grayscale® Bitcoin Cash Trust and Grayscale® Litecoin Trust have received approval from FINRA for public quotation under symbols: BCHG and LTCN respectively on OTC Markets, marking the introduction of the first publicly-quoted securities in the U.S. deriving value from Bitcoin Cash (BCH) and Litecoin (LTC). The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.
Building a small position in $ETHE. Crypto is more fun than gold and silver.
— Brian Todd (@BRIAN__TODD) July 23, 2020
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Currently on the move ETHE is making an explosive move up the charts since a brief dip below $100 per share as crypto stocks heat up across the board. With recent highs of $259 Grayscale is quickly gaining the interest of investors and has emerged as a volume leader in small caps in recent months. Grayscale Investments is the world’s largest digital currency asset manager, with more than $4.1B in assets under management as of July 15, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. We will be updating on ETHE when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ETHE.
Disclosure: we hold no position in ETHE either long or short and we have not been compensated for this article.