Grayscale’s Ethereum Trust hits $1 billion in assets under management
Crypto asset manager Grayscale’s Ethereum Trust has crossed the $1 billion mark in assets under management (AUM).
The milestone means Grayscale is now managing a billion-dollar worth of ether (ETH) on behalf of its clients. Grayscale’s Ethereum Trust allows investors to take indirect exposure to ETH in the form of a security, while avoiding the challenges of buying and storing ETH directly.
Last month, Grayscale’s Ethereum Trust became a registered reporting company with the Securities and Exchange Commission to file quarterly and annual reports with the regulator.
Besides Ethereum Trust, Grayscale offers several investment products, and its total AUM stands at $8.5 billion as of November 5.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Yogita Khatri
