The US-based digital asset management fund Grayscale has continued to expand, with its total assets under management hitting $5.5 billion.
Market indicators and data records from industry insiders reflect that the investment firm mostly owned funds in Grayscale’s trusts for Bitcoin and Ethereum. BTC trust stands at the top spot by holding almost $4.5 billion, Whereas the firm’s ETH trust comes second with $746 million, as per Grayscale August 8 update.
Grayscale Ethereum Trust has Become the Second Entity to Report SEC
Grayscale Ethereum Trust has become the U.S. Securities and Exchange Commission reporting company, according to the Grayscale announcement. The digital currency asset manager has filed a Form 10 to register its Ethereum Trust as the second SEC reporting entity, earlier Bitcoin Trust received a reporting company status in January.
At the time of filing a Form 10, Grayscale noted:
“The filing is subject to SEC review; if the Registration Statement becomes effective, it would designate Grayscale Ethereum Trust as the second digital currency investment vehicle to attain the status of a reporting company by the SEC, following Grayscale® Bitcoin Trust as the first.”
Grayscale Ethereum Trust presents the investor with a cost-efficient means of getting exposure to ETH. As an outcome of SEC registration, the shares holding duration is decreased to a half year under the Securities Act.
At the time of reporting, shares value stands around $56. Before taking a sharp downturn in the following weeks, Ethereum Trust shares hit a year-to-date high of $240 in June.