Grayscale Now Holds 2% of Ethereum’s (ETH) Circulating Supply

October 16, 2020 Editor Ethereum 0

Quick take:

  • Grayscale currently manages a total of $6.3 Billion in digital assets
  • Its Ethereum trust is worth $869.7 Million
  • This figure is approximately 2% of Ethereum’s market cap indicating Grayscale holds a similar percentage of ETH’s circulating supply
  • The team at Weiss Ratings predicts an 18% spike in Ethereum’s value once ETH2.0 is released

A few hours ago, the team at Grayscale provided an update of the total assets under management at the investment firm. The update gave a value of $6.3 Billion in digital assets under management at Grayscale. Of this amount, $869.7 Million is held in its Ethereum Trust.

Below is the Twitter update by the team at Grayscale providing the information on the total digital assets held at the firm.

Grayscale Holds 2% of Ethereum’s Circulating Supply

Taking a second look at the value of Ethereum held by Grayscale, the amount of $869.7 Million represents roughly 2% of ETH’s total market capitalization of $41.5 Billion. This means that Grayscale currently holds 2% of Ethereum’s circulating supply of 113 Million ETH. Doing additional math, the Grayscale Ethereum Trust is comprised of roughly 2.260,607.88 ETH.

Current ETH stats courtesy of Coinmarketcap.com

Expect an 18% Increment for Ethereum once ETH2.0 is Launched

Grayscale Investments holding 2% of Ethereum’s circulating supply is very bullish for the long term ETH holder. Additionally, the team at Weiss Ratings has placed a possible 18% increment in value once ETH2.0 is launched and staking of Ethereum is available for everyone.

The analysis by Weiss Ratings is based on the fact that 50% of all Ethereum (ETH) has not moved in 12 months. This translates to roughly 56.5 Million ETH laying dormant in anticipation of ETH2.0. Below is the tweet by Weiss Ratings forecasting a bullish market environment for Ethereum once ETH2.0 is launched.