Ethereum (ETH) has hit a new all-time high, with the cryptocurrency currently valued at $1,571. Amidst the rising demand for digital assets, Grayscale has revealed it has added $38 million worth of ETH. Grayscale’s total ETH AUM has now climbed up to $4.5 billion. Grayscale Recently Reopened Its Ethereum Trust A filing released by institutional crypto fund manager Grayscale has revealed that its Ethereum Trust product currently holds an underlying value for ETH. Grayscale, one of the market’s leading digital asset managers has recently reopened its publicly traded product Ethereum Trust (OTCQX: ETHE) to accredited investors for private placement. The addition of ETH comes just less than a week before the scheduled launch of ETH Futures on the CME. With the launch of ETH Futures, traders will have the ability to enter short positions on the cryptocurrency. It will also provide investors the ability to hedge against their spot positions. This will likely make ETH an attractive investment, especially for institutional investors. 02/02/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products. Total AUM: $27.5 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/B4nP4jNRqE — Grayscale (@Grayscale) February 2, 2021 Ethereum Makes a New ATH Ethereum is currently trading near $1,560, the highest ever price in its five-year history. Its previous high was recorded around the $1,350 level in January 2018. Data from Santiment have revealed that Ethereum’s rising price levels are largely attributed to new retail investors. As new daily addresses created for ETH have also hit an all-time high on the charts. 🚀 #Ethereum has made a new #AllTimeHigh of ~$1,540 today and is +15% the past 24 hours! To support this, our platform indicates that new $ETH addresses are continuing to emerge at higher rates over time, generally a very bullish signal for #crypto assets. https://t.co/UXh0ops1C3 pic.twitter.com/oI5anS1bSG — Santiment (@santimentfeed) February 2, 2021 At the current price, Ethereum is already trading over 100% gains year-to-date. Possibly the price of Ether is likely to rise at much higher levels ahead in 2021 with more institutional inflows. Grayscale believes that the later stages of Ethereum’s 2.0 upgrade, which is still years away, could be a net positive for the value of ETH. Grayscale has seven other single-asset trusts, two of which are in Ethereum and Ethereum Classic, and a diversified large-cap fund. Its most popular investment vehicle remains the Grayscale Bitcoin Trust (GBTC), which works almost similar to a Bitcoin ETF.
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