Grayscale's ETHE shares tumble 50% as Ether skyrockets
A long-term arbitrage play from institutional investors may explain why shares in Grayscale’s Ethereum Trust have tanked by 50% in two weeks while Ether rallied 75%. Shares in fund manager Grayscale Investments’ Ethereum Trust plummeted by 50% this past fortnight, despite Ethereum rallying by 75% over the same period.ETHE shares represent 0.09620794 of an Ether each and are currently trading for $13.80 — roughly a 21% premium over the spot price of ETH.Grayscale’s ETHE shares have been on a roller coaster ride, surging around 500% from $4.20 at the start of October, before topping out at....
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Prominent asset manager Grayscale Investments is set to launch spinoffs of their Grayscale Ethereum Trust’s (ETHE) and Grayscale Bitcoin Trust (GBTC) exchange-traded funds (ETF). Following inquiries by market spectators and potential investors, Bloomberg analyst James Seyffart has provided much insight into the nature and operation of these spinoffs. Grayscale ETF Spinoff Based On 90-10% Sharing Format, Seyffart Says On Friday, James Seyffart published a thread on social media platform X, discussing vital information about Grayscale’s ETF spin-offs Grayscale Ethereum Mini Trust (ETH) and....
The discount brokerage has seen a steep decline in crypto-related revenue over the past 12 months as retail traders exited the market. Digital asset manager Grayscale has made its flagship Bitcoin (BTC) and Ether (ETH) products available on Robinhood, the popular trading app open to millions of retail users. Beginning on Friday, Robinhood users will be able to trade Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) directly through the app. Shares of GBTC provide investors with direct exposure to Bitcoin in the form of a security without having to buy or store the digital asset....
The uncertainties outlined in the document may offer significant insights for Grayscale's investors. According to the latest SEC disclosure by the Grayscale Ethereum Trust, or ETHE, the impending transition of Ethereum (ETH) to the proof-of-stake consensus represents a risk that could have a “material adverse effect” on its shares.The ETHE recently filed an application with the regulator to become an SEC-reporting company. Companies of this nature are required to discuss the risk factors that may have an adverse impact on the their performance within all quarterly and annual reports.One....
Cathie Wood's Ark Invest purchased more than 450,000 GBTC shares in two separate buys this week. As the price of Bitcoin returned to more than $32,000 this week, some major firms announced they had increased their exposure to cryptocurrencies through Grayscale’s crypto trusts.According to a Friday filing with the U.S. Securities and Exchange Commission, or SEC, New York-based investment firm Edge Wealth Management currently holds 54,134 shares of Grayscale’s Bitcoin Trust (GBTC), valued at $27.13 at the time of publication, and 25,280 shares of the company’s Ethereum Trust (ETHE). The....
Existing shareholders will receive eight additional ETHE shares for each one held, with each new share being a ninth the value and price of the current ones.