Grayscale Files Ethereum Trust To Gain SEC Approved Firm Status

August 9, 2020 4:01 PM UTC

Grayscale, a crypto asset manager, has attained a new all-time high to its AUM. The crypto fund manager has been able to grow its AUM by adding another $1 billion.

While disclosing an expansion of AUM, the Grayscale update represents a dramatic increase. On July 28, Grayscale posted a tweet that showed nearly $5.1 billion assets under management. The investment firm mostly owned funds in Grayscale’s trusts for Bitcoin and Ethereum.

Amid the Ethereum bull run, Grayscale has filed a Form 10 with SEC to register its Ethereum Trust. Grayscale Ethereum Trust currently owns 1.9 million ETH, worth over $740 million.

Passing statement on regulator registration 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.”

Investors Massive Inflow Beyond Bitcoin

Although users have extensively invested in Grayscale’s Bitcoin Trust, but Grayscale has highlighted that Ethereum trust profile has also gained massive support:

“This past quarter alone (2Q20), we saw the average weekly investment into the Grayscale Ethereum Trust hit $10.4 million, amounting to record quarterly inflows into the Trust to the tune of $135.2 million.”

While the Grayscale Trust continues to gather an enormous amount of crypto, the firm revealed that more than 80% of users are diversifying their investment in order to explore new possibilities.

Follow us on
Daily updates

    Leave a Reply

    Your email address will not be published.

    5 × 5 =