Grayscale to Bring Ethereum Trust to Retail Buyers

Crypto asset management firm Grayscale has received approval from the Financial Industry Regulatory Authority (FINRA) to list shares of its Grayscale Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term Trust on the retail market.

According to the New York-based company, it is “the first U.S. publicly quoted security solely invested in and deriving value from the price of Ethereum.”

Launched in 2017, Grayscale operates ten crypto-based funds, including its Ethereum-based fund, most of which are only available to accredited investors with a minimum purchase limit of $25,000 through private listings. Similar to its Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethreum Classic trusts, the Grayscale Ethereum Trust can now be traded in the open over-the-counter (OTC) market like securities.

“The secondary market really opens up the opportunity for any and all investors,” Michael Sonnenshein, managing director of Grayscale Investments, told Bloomberg.

Though the exact timeline of the listing is not specified by the asset management company, it could hit the open market in the next two weeks. The shares will be traded under the ticker symbol of ETHE, and each unit will be equivalent to around one-tenth of an Ether.

“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,” the company noted in the press release.

Managing billions worth crypto

As per the firm’s daily update, it has a total AUM of $1.8 billion. Grayscale Bitcoin Trust leads the chart with a total asset of $1,737.6 million, whereas its Ethereum trust manages only $11.7 million worth digital assets with each share valued at $23.38 on May 23.

5/23/19 UPDATE: Holdings per share and net assets under management for our investment products

Total AUM: $1.8 billion pic.twitter.com/UxU5qar6ri — Grayscale (@GrayscaleInvest) May 23, 2019

Meanwhile, on the crypto exchanges, Ethereum is trading at around $245 apiece, as seen on Coinmarketcap.com, gaining around 2.4 percent in the last 24 hours.