GrayScale Buys Another 130,000 ETH – Trustnodes

GrayScale Buys Another 130,000 ETH


GrayScale's ethe

The only SEC registered way to buy ethereum in America has announced they bought another 130,000 eth on Thursday.

The Grayscale Ethereum Trust, trading under the ticker of ETHE on OTC Markets, issued 1,416,300 shares.

That translates to 131,455.43747295 eth representing $74,135,609, bringing their total holdings to 31,696,600 shares, or more than three million eth.

This is a significant increase from 75,000 eth, to 100,000 eth to now 130,000 eth, suggesting there has been rising demand for the second biggest cryptocurrency by accredited investors.

That is wealthy people with a yearly income of $200,000 or a net worth of one million after their home, or of course institutions like banks and the like.

Meaning this demand is coming from sophisticated investors, and it is rising, with some 300,000 eth bought this month so far through just GrayScale’s ethereum trust.

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