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Grayscale Investments, a digital asset management firm founded by Digital Currency Group, announced Thursday that it has received FINRA approval to list its Grayscale Ethereum Trust (ETHE) on the OTC markets.
Our team continues to bring new opportunities for investors to gain exposure to digital currencies. We’re pleased to share that Grayscale Ethereum Trust received FINRA approval for a public quotation on @OTCMarkets under symbol: $ETHE* https://t.co/SQPBI8CjrQ (1/2)
— Grayscale (@GrayscaleInvest) May 23, 2019
According to the announcement, ETHE will represent the third publicly tradeable investment product by Grayscale, joining both Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Classic Trust (ETCG).
“As of April 30, 2019, each Share of ETHE represents ownership of 0.09662399 Ethereum,” states the Grayscale team. “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.”
Grayscale notes that there will be no trading volume in the shares’ public quotation until the shares are DTC eligible, which they believe will happen in the near future.
As we previously reported, Grayscale has been making a significant push to promote both and institutional investor adoption and recently launched a major marketing campaign to try and sway institutional investors to drop their investments in gold and begin positions in Bitcoin (BTC).