The Ethereum Trust is Grayscale's launch of a cryptocurrency fund in 2017, but it was previously only open to qualified investors and requires at least $25,000 in investment. The approval of the Ethereum Trust Fund means that small investors can also participate, while ETHE can trade freely like other securities in the over-the-counter market.
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Grayscale spokesperson Marissa Arnold said: "ETHE investors can earn their profits without purchasing, storing and keeping ETH. As of April 30, 2019, ETHE represents the ownership of 0.09662399 Ethereum."
The Ethereum Trust is expected to be launched in two weeks, when investors can find the current financial disclosures and real-time quotes for ETHE stocks on the OTC website.
It is worth mentioning that the Ethereum Trust Fund launched in grayscale is different from the exchange trading, which cannot provide more liquidity, lower fees and wider availability. Nonetheless, industry insiders said that the launch of the Ethereum Trust Fund provides a wide-ranging channel for OTC investors to access cryptocurrencies and attract more users to participate in cryptocurrency investments. This will help to further enhance the value of ETH.
In addition, The Block analysts said Ryan Todd said that more and more institutional investors have injected funds into grayscale funds. Specifically, hedge funds have invested less than $1 million in the fourth quarter of last year. This has increased dramatically to nearly $24 million in the first quarter of this year. Not only that, the quarterly total capital inflows from qualified investors have fallen from 7% in the past 12 months to 1% in the first quarter of this year, while the Family Finance Office has accounted for The proportion of capital inflows rose to 10%.
At present, the gray level manages 10 funds. As of May 15, 2019, its assets under management are about 1.9 billion US dollars.
Previously, the US Commodity Futures Trading Commission (CFTC) also intended to approve ETH futures contracts. Since Bitcoin futures and Bitcoin trust funds, Ethereum is now increasingly favored by the mainstream. Once these products are launched, Ethereum investors will usher in explosive growth, which will further promote the price of Ethereum. Upgrade.
As of now, Ethereum offers 245.5 US dollars, an increase of 1.43%. (Coin World)