Major digital currency asset management, Grayscale Investments has announced that its Ethereum-based security, Grayscale Ethereum Trust (ETHE) is now open for trading on over-the-counter (OTC) Markets. Grayscale shared the blog post on June 20.
As per the blog post, ETHE which was launched in 2017, is an open-ended trust holding Ethereum; also it derives its value solely from the price of the cryptocurrency. Furthermore, the post added that ETHE is a form of investing in Ethereum without having to hold the actual cryptocurrency.
Since FINRA’s (Financial Industry Regulatory Approval) approval for public quotation and DTC eligibility, ETHE is now officially open on the OTC markets. Qualified and institutional investors can proceed to invest in the Grayscale Ethereum Investment Trust at NAV, the blog post added.
Talking about how investing in Ethereum can enhance investors portfolio, Matt Beck, Director, Investments, and Research at Grayscale stated –
“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). These opportunities should be accessible to all investors and should be considered within the context of their investment goals, objectives, and risk tolerance.”
ETHE is an investment product by Grayscale, also offering trust for other cryptocurrencies including Grayscale Bitcoin Trust, Stellar Lumens (XLM), Ethereum Classic (ETC), Ripple (XRP), Horizen (ZEN) and Zcash (ZEC).
In a disclaimer, Grayscale added, the products or trusts are not registered with the SEC or the US Investment Company Act of 1940. Also adding that, “There are substantial risks in investing one or more products.”
Last month, Grayscale announced about receiving regulatory approval from FINRA to trade ETHE on over-the-counter markets.