Grayscale, one of the largest digital asset managers in the world, has reopened its Ethereum trust to investors. It is the world’s biggest Ethereum trust with around $4 billion ETH under its management.
Grayscale confirmed this with an announcement that the trust had resumed placement of its private shares. This private placement is offered on a periodic basis throughout the year. It is now available to investors for daily subscription following a brief suspension that started in December.
Over the past week, Grayscale has also registered more than a dozen altcoin trusts with Delaware’s corporate registry. Including Aave, Cardano, Uniswap, and Polkadot. This indicated that they’re looking to accommodate for investors’ growing interest in altcoins.
Grayscale Always Looking For Opportunities
“Grayscale is always looking for opportunities to offer products that meet investor demands,” Grayscale CEO Michael Sonnenshien said. “Occasionally, we will make reservation filings, though a filing does not mean we will bring a product to market. Grayscale has and will continue to announce when new products are made available to investors.”
The news of Grayscale reopening its Ethereum trust has led many to believe that there is the potential for an influx of money to come into ETH. Which would send the crypto to new all-time highs. The announcement also came just a week before the launch of ETH futures on CME. The world’s largest derivatives platform and the largest market currently for Bitcoin futures.
All of this is evidence of institutional investors increasingly taking positions in the crypto market. The addition of ETH futures will allow them to gain similar exposure to Ethereum.
And there are other reasons to be bullish on Ethereum. There is 4 billion worth of ETH now locked in the ETH 2 deposit contract. The merge between ETH 1 and ETH 2 is expected to take place next year. At That point the ETH 2 monetary policy will begin to take effect.
According to the current ETH 2.0 spec, the issuance rate will be greatly reduced as a part of Proof of Stake. This, along with the introduction of EIP-1559 that burns miner fees, will add deflationary pressure to the asset.
Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.
The price of Ethereum (ETH) continues to fall, going below the vital $3000 support. ETH has lost about 20%...
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