Grayscale Invests Customer Funds in ETH

Cryptocurrency Asset Management Grayscale Investments continues to show interest in Ethereum. New data reports that the company owns 1% of the ETH circulating quantity. The company is expected to increase purchasing level to maintain the Ethereum Trust.

On December 14, 2017, the Ethereum Trust was launched. In the list of investment products, it takes the second place and has about $140 mln. The Ethereum Trust gives the opportunity to invest in cryptocurrency in the traditional way, without buying or holding ETH. According to Grayscale, only the Bitcoin Trust remains more popular and has greater volume.

It is estimated that since the beginning of this year, approximately 1.5 mln ETH was mined. On April 24, Grayscale bought 756539.77 ETH, which is about 48% of all coins mined.

The recent Grayscale report shows that the $503 mln has been received by the company in the first quarter of 2020, 88% are institutional investors. The report also indicates that the Ethereum Trust takes $ 388.9 mln and it represents the largest share in investment inflows. This suggests that Ethereum is in great demand among institutional investors, and this interest continues to grow.

At the time of writing, the price of ETH was $196. In the weekly and monthly charts, ETH recorded an increase of 8.37% and 49.69%, respectively.

Image courtesy of CVJ