The Grayscale Investments team announced on Twitter that there is strong demand for Ethereum (ETH) investment products. According to Grayscale, the third quarter of 2020 saw the largest investment in the Ethereum Trust, with more than $ 202 million in entries.

According to Bybit.com, the total Ethereum assets managed at Grayscale are worth $ 1.94 Billion. This figure corresponds to 2.94 million Ethereum in Grayscale vaults.

What’s in the new plan?

Earlier this month, Grayscale announced that it will achieve the 9-to-1 split of the Ethereum Trust. Shareholders continued to successfully purchase 8 additional shares on December 17th. The move aimed to increase the liquidity of the Ethereum Trust (ETHE) as well as make it more affordable. Stock splits generally indicate an uptrend as a step towards meeting the demand of investors.

Ethereum’s price is on its way to $ 700

The value of ETH is safely traded above the support area of ​​620 – 650 $. At the time of writing, Ethereum is trading at $ 656, which looks like a consolidation for a move in either direction depending on Bitcoin’s next move.

Ethereum’s surpassing the $ 700 resistance is seen as an important step towards ATH.

LEAVE A REPLY

Please enter your comment!
Please enter your name here