Grayscale, the US-based digital asset management fund, has been steadily growing in 2020. Grayscale has been buying massive amounts of Bitcoin and Ethereum.
According to official reports, Grayscale has acquired more than $100 million worth of Ethereum coins.
Ethereum Investment Trust Plummeted 50%
Grayscale shares in ETHE, which invests in the second-largest cryptocurrency, has dropped around 50% in value this week on over-the-counter markets.
Grayscale Ethereum shares dropped from a high of $204 to $80 but bounced back up above $100. Furthermore, premiums suffered a noticeable drop. Within a few weeks, shares fell to 360% from 750%.
Many ETHE shares that were only available on Grayscale’s primary market became unlocked after the incident. The termination of this session made more offers being accessible to OTC markets.
It’s important to remember that ETHE crash doesn’t directly affect the price of Ethereum as it continues on its bullish path.