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Someone is buying Grayscale Ether Trust shares for over $ 2,000

June 14, 2020

Trading in Ethereum Investment Trust shares from Grayscale Investments or ETHE, has a premium of 750% above the market price of the underlying in secondary markets, according to Messari, the cryptanalysis company.

The grayscale fund premium has risen sharply since the beginning of the year ETHE shares at 220% of Ether’s spot price (ETH) in February.

The trust offers exposure to ETH without investors having to manage and protect the cryptocurrency was preferred among institutional investors.

The ETHE premium will be extended

Someone is buying Grayscale Ether Trust shares for over $ 2,000Someone is buying Grayscale Ether Trust shares for over $ 2,000

ETHE stock trading was recently valued at $ 2.905 per ETH 46% above the all-time high of ether prices on the spot markets.

The stock premium via Ethereum has continued to increase in the past few months with trading ETHE at the beginning of April 550% above the spot prices.

The increase in the difference seems to have been driven by the growing institutional demand for ether before the start of ETH 2.0with grayscale purchase of $ 110 ETH in 2020 so far.

In a recent interview, Ray Sharif-Askary, Director of Investor Relations at Grayscale stated this 38% of the company’s customers are currently exposed to more than one crypto assetcompared to 9% a year ago.

Grayscale BTC accumulation exceeds supply

Grayscale’s Bitcoin mutual fund has increased accumulation significantly this year after buying 33% of the new Bitcoin (BTC) in the first quarter Take coins 1.5 times faster than they are mined after halving.

Since the block reward was halved due to the halving, the trust has already bought 19,000 bitcoins: Nearly $ 178.6 million BTC accumulation in about five weeks.

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