After a recent rally in Bitcoin and with Facebook creating its own cryptocurrency, it seems that cryptocurrency is back in vogue just in time for summer. Jumping on this revitalized trend, Grayscale Investments, a global leader in digital currency asset management, announced that trading has commenced for common units of a fractional undivided beneficial interest in Grayscale Ethereum Trust (ETHE).
Currently, ETHE is available to trade on the OTC Markets under symbol: ETHE. Launched in 2017, ETHE is sponsored by Grayscale.
For some quick background, ETHE is an open-ended trust that holds Ethereum and derives its value solely from the value of Ethereum. Investors in ETHE can gain exposure to the price movement of Ethereum without the challenges of buying, storing, and safekeeping Ethereum.
As of May 31, 2019, each share of ETHE represents ownership of 0.09641904 Ethereum.
It’s worth pointing out that ETHE will not generate any income and regularly distributes Ethereum to pay for its ongoing expenses. Therefore, the amount of Ethereum represented by each share gradually decreases over time.
Separately, Grayscale has single-asset investment products which provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC).
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.