Grayscale reported an increase in investments in Ether

by in Cryptocurrency News

Ethereum

At the end of this week, investment company Grayscale announced an increase in capital expenditure on ether (ETH). Its Ethereum Trust now has accumulated $ 869.7 million.

In total, Grayscale manages digital assets totaling up to $ 6.3 billion. Recall that the company sent an application for registration of an Ethereum trust to the US Securities and Exchange Commission (SEC) in early August this year.

Thus, 2% of the total supply of ether (2.26 million coins) came under the control of Grayscale, observers note. Currently, the total capitalization of ETH is just over $ 41.5 billion (113 million coins).

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The increase in investment in altcoin suggests that Grayscale is set for long-term growth in the value of ether. Many in the expert community hold a similar point of view.

Recently, the Weiss rating agency published a review in which it predicted an increase in the price of ETH after the release of the updated version of Ethereum (ETH 2.0). According to this team, ether will rise in price by about 18%. Analysts pointed to the fact that half of the ETH coins have not moved anywhere in the past 12 months.

The largest share of Grayscale's capital is concentrated in the Bitcoin trust. At the end of the summer of 2020, the value of the Grayscale Bitcoin Trust exceeded $ 3.5 billion, now it exceeds $ 5.3 billion.