After becoming SEC, the securities and exchange commission, reporting entity, Grayscale Ethereum Trust has surpassed a major milestone. The Trust AUM has hit the $1 billion thresholds for the first time.
The Grayscale Ethereum Trust completely invested in ETH, with shares designed to present investors with a cost-effective means of getting ETH exposure. Indirect exposure to ETH sidesteps the difficulties of buying and storing ETH. The new achievement implies Grayscale is currently managing ETH worth a billion dollars for its users.
Last month, Grayscale’s Ethereum Trust became the second crypto investment vehicle to receive reporting status from the Securities and Exchange Commission. This suggests that the Trust and its shares are now registered under the Securities Exchange Act.
Grayscale Become Bitcoin Largest Purchasers
The crypto-focused investment company Grayscale has achieved a new all-time high to its AUM. The firm now claims a total of $8.5 billion worth of cryptos under management that covers Bitcoin, Ethereum, and several cryptocurrencies, as of November 5.
While the Grayscale Trust continues to gather an enormous amount of crypto, Bitcointreasuries.org report reveals that Grayscale’s Bitcoin trust has amassed 58% of the total Bitcoin held by publicly traded companies. The Grayscale Bitcoin Trust holds almost 456,537 Bitcoin.