Grayscale’s cryptocurrency products continue to attract investors – investments in Grayscale Ethereum Trust have exceeded $1 billion, and the total amount of funds under the company’s management has reached $8.5 billion.
Grayscale trusts allow investors to access popular cryptocurrencies in the form of securities. When buying shares of the company’s trusts, investments go directly into cryptocurrencies, while Grayscale itself deals with the purchase and storage of digital assets.
At the moment, the company has two cryptocurrency products registered with the US Securities and Exchange Commission (SEC) – Bitcoin and Ethereum trusts. Recall that the Ethereum Trust (ETHE) was registered with the SEC at the beginning of last month.
At the end of October, the amount of funds managed by Grayscale was estimated at $6.5 billion, but at the moment this figure has reached $8.5 billion. This was facilitated by both the influx of investments from the company’s clients, and the significant growth of the cryptocurrency market – the bitcoin exchange rate exceeded $15,000 for the first time since the beginning of 2018.