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.
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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).
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
