Meet Grayscale’s Newest Vehicle to Invest in Crypto
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…
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).
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
