The Grayscale Ethereum Trust (ETHE) reportedly holds 2% of all ET in circulation according to Barry Silbert, co-founder and CEO of the Digital Currency Group.
On social media, Silbert pointed out that while most people are focusing on institutional investments into bitcoin, the Ethereum Trust has been slowly adding ETH thanks to investors, to the point 2% of all of the cryptocurrency’s circulating supply is now held by Grayscale, a subsidiary of the Digital Currency Group.
Silbert’s comment came shortly after Grayscale Investment released its financial report for the third quarter of the year, which revealed it raised $1.05 billion into its investment products, making it the “largest capital inflow in a single quarter in the firm’s history.”
While Grayscale’s report pointed out that its Bitcoin Trust (GBTC) has led investment demand with inflows of $719.3 million in Q3 2020, other products also saw demand keep on growing, to the point year-to-date investment into Grayscale’s products surpassed $2.4 billion.
The report added that the majority of the inflows to all of its products came from institutional investors, which accounted for 81% of the investment in Q3. Investors also broadened their exposure to the crypto market, as 57% of the funds came from investors with exposure to various Grayscale products.
IT’s worth pointing out that the Grayscale Ethereum Trust allows investors to gain exposure to ETH itself without them having to manage private or public keys. Grayscale manages the fund for a fee and its assets under management are of $867.6 million, according to the website. Each ETHE share has 0.09316004 ether in it.
Featured image via Pixabay.
