GrayScale, the American ethereum stock provider under an exemption from the Securities Act, has announced they bought another 100,000 eth. They say:
“Since the sales reported on the most recently filed Current Report on Form 8-K by Grayscale Ethereum Trust (ETH) (the “Trust”), the Trust issued 1,140,900 Shares at varying prices determined by reference to its Digital Asset Holdings per Share to selected “accredited investors,” within the meaning of Rule 501 of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), in private placement transactions exempt from the registration requirements of the Securities Act pursuant to Rule 506(c) thereunder for an aggregate of 105,927.51301273 Ethereum representing $62,975,646.
Genesis Global Trading, Inc. (“Genesis”) acted as the Authorized Participant with respect to these distributions. As a result, there are 30,280,300 Shares issued and outstanding as of December 7, 2020.”
Their last filed report was precisely a week ago, meaning another 100,000 eth has been sold this week, up from 78,229.44246893 eth representing $44,239,108 as of December the first.
The asset manager moreover seems to have some three million eth issued and/or ready to be bought, making this one of the world’s biggest custodian of eth.
The Grayscale Ethereum Trust (ETHE) however is limited to accredited investors, that being wealthy individuals or institutional investors.
It is the only way to invest within America in a stock form for eth and bitcoin, leading to GrayScale now handling more than $12 billion in assets and growing.
The demand has further led to a significant premium with eth trading at some $1,200 in ETHE (pictured) at 0.1 eth per share.
Calls for an ETF therefore have been growing significantly with many expecting the new administration to approve it now that the crypto space has much interest and involvement from institutional investors.