Grayscale reopens its Ethereum fund, should price rise?

Charlie Taylor


The world's largest digital asset manager, Grayscale Investments, said on Monday that its Ethereum Trust (OTCQX: ETHE) fund is again open to accredited investors.
The company said that the private placement of its shares in the fund is offered periodically throughout the year. The Ethereum Trust last closed its doors in late December, along with five other funds.
After the reopening of the Bitcoin fund, Grayscale's biggest product to date, the manager had to buy three times more bitcoins than were mined in the period to meet the huge demand. On this day, January 14, bitcoin opened higher and reached US $ 40 thousand, but since then the btc has been retreating and is trading at US $ 34 thousand at the time of writing.
The impact of demand for Ethereum through the manager has yet to be seen. According to Coinbase, the largest broker in the U.S., institutions are also starting to invest in ether, in addition to diversification into bitcoin.Alter - Cryptoback
As of Jan. 29, the Grayscale Ethereum Trust had more than $ 4 billion in assets under management, the company said on Monday.
Grayscale offers its various funds to investors seeking exposure to cryptocurrencies like bitcoin and ether without the challenges of buying and storing the cryptocurrency directly.
The manager last week registered five new funds for cryptocurrency assets, several of them linked to the decentralized finance space (DeFi).
However, these and other recent trust records do not necessarily mean that investment vehicles will actually be launched.Alter - Cryptoback
See also: Kiss vocalist claims to have bought Bitcoin, Dogecoin, XRP and other cryptocurrencies


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