Grayscale Ethereum Trust files to become an SEC reporting company amidst the Ethereum bull run.
On August 6, Grayscale Ethereum Trust filed to become an SEC-reporting company.
Amidst the Ether (ETH) bull run, Grayscale Investments voluntarily decided to make its Ethereum Trust an SEC reporting company. The company’s best-known investment product is a Bitcoin Trust that holds around 400,000 Bitcoin (BTC), worth nearly $4,744,800,000 as of press time. Additionally, its Ethereum Trust currently has 1.9 million ETH in its possession, valued at approximately $746 million. As with other Grayscale products, Coinbase is acting as a custodian.
Grayscale noted that the filing is under review. If approved, it would be the second cryptocurrency investment vehicle to attain such status:
“The filing is subject to SEC review; if the Registration Statement becomes effective, it would designate Grayscale Ethereum Trust as the second digital currency investment vehicle to attain the status of a reporting company by the SEC, following Grayscale® Bitcoin Trust as the first.”
This would likely present the Trust in a more favorable view to potential institutional investors.
81% of returning institutional investors invest beyond Bitcoin
In today’s Medium post, Grayscale pointed out that the demand for its Ethereum Trust in the second quarter of 2020 accounted for almost 15% of all inflows:
“This past quarter alone (2Q20), we saw the average weekly investment into the Grayscale Ethereum Trust hit $10.4 million, amounting to record quarterly inflows into the Trust to the tune of $135.2 million.”
In a statement to Cointelegraph, Grayscale emphasized the increased willingness to diversify beyond Bitcoin for the returning institutional investors. In the last quarter, 81% of these investors diversified their holdings beyond Bitcoin, an increase from 71% over the trailing 12 months.
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send some Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send some Ethereum
Donate Litecoin to this address
Scan the QR code or copy the address below into your wallet to send some Litecoin
Donate Zcash to this address
Scan the QR code or copy the address below into your wallet to send some Zcash
424 Interactions, 2 today