Grayscale announced that it had acquired more than $ 74 million in ETH tokens through registration with the SEC, the only one of its kind to invest in Ethereum.

Cryptocurrency adoption is growing rapidly, and Grayscale is aware of this situation. After last week announcing a massive acquisition in Bitcoin worth over $ 280 million, Grayscale has now moved into action for Ethereum.
A Terrific Year For Ethereum

According to a report sent to the SEC by Grayscale, the company announced that it had purchased 131,455 ETH for a total of $ 74,135,609. With the rise of DeFi projects and the launch of Ethereum 2.0, it has been a great year for Ethereum, and this latest development is a decision worthy of 2020.Genesis Trading, a US-regulated OTC crypto trading desk founded in 2013, acted as an intermediary to facilitate the purchase of tokens. Trading on OTC Markets with the symbol of ETE, Grayscale Ethereum Trust issued 1,416,300 shares.

Grayscale’s Ethereum token purchases can be considered a sign of corporate interest and show just how big the appetite of traditional investors for this emerging market is. Unlike a typical stock market, Grayscale’s products are fully regulated derivative products in the United States, which makes it completely safe to go in and work with them.

The Grayscale Ethereum Trust (ETHE) is rated by the company as “the only SEC-Registered way to invest in Ethereum.” Investors buy shares in Grayscale trusts with a commitment to hold their funds (as shares) for several months. Once the lockout period expires, they can sell those shares on the secondary market. Grayscale does not participate in this market and does not buy back its customers ‘ shares. This market is independent and does not guarantee Grayscale liquidity or price stability. Therefore, participants generally tend to earn very lucrative premiums by trading in this market.

See Also
Vitalik will speed up Ethereum 2.0 to prevent a 51% attack while the miner rivalry continues

ETH accounts for 13.7% of Grayscale’s total funding, while Bitcoin accounts for more than 82%.

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