Grayscale Ethereum Trust Is Now Available For Trading On OTC Markets
- Grayscale Ethereum Trust is now available for investors to trade it
- This is one of the many products available in the market for investors to gain crypto exposure
- The Grayscale Ethereum security, Grayscale Ethereum Trust (ETHE), is currently available for trading on OTC markets. This is according to a blog post released by the company yesterday June 20. This is the first U.S.-based publicly quoted security that is invested in and deriving value from Ethereum’s price.
Grayscale Launches New ETHE Security
According to the blog post released by the company, ETHE is a trust that holds Ethereum, the second largest virtual currency in the market after Bitcoin. That means that investors would be able to have access to gain exposure to Ethereum without necessarily having to purchase the cryptocurrency itself.
The Director of Investments and Research Matt Beck explained that investing in this digital asset could help investors have a more profitable portfolio.
On the matter, he commented:
“Cryptocurrencies such as Ethereum offer exposure to a unique set of market opportunities and risks that are uncorrelated to traditional assets. As a result, they can further diversify modern portfolios, enhancing returns per unit of risk (when positions are sized appropriately and maintained over long investment horizons).”
Back in May, the CEO of Morgan Creek Capital, Mark Yusko, said that investors should hold Bitcoin (BTC) because it is a low correlation and highly diverse asset. Grayscale received the green light to trade ETHE through OTC markets back in May. The Financial Industry Regulatory Authority (FINRA) provided the company with the necessary permission to offer these investment products to investors.
It is worth mentioning that the trusts launched by the firm are not registered with the major American watchdog, the Securities and Exchange Commission (SEC). That means that they are not subject to the same regulatory requirements as SEC-registered exchange-traded funds or other mutual funds.
Grayscale is the world’s largest digital currency asset manager and they are working in the market since 2013 when they launched their flagship product, the Grayscale Bitcoin Trust.
Since that moment, they have been working so as to offer services to investors around the world. This is why the company is now offering exposure to top digital currencies by market capitalization such as Bitcoin Cash (BCH), Bitcoin, Ethereum, Ethereum Classic (ETC), Litecoin (LTC), Horizen (ZEN), Stellar Lumens (XLM), XRP and also Zcash (ZEC).