Grayscale Ethereum Trust Announces 9-for-1 Stock Split
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.
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The split will take effect on Dec. 17. Digital asset manager Grayscale has announced a share split for its Ethereum Trust — a move that could make the fund more attractive to individual investors. In an official press release, Grayscale announced Wednesday that the split will be implemented on Dec. 17, with shareholders of record receiving eight additional shares for each one they currently own. To be eligible for the split, investors need to be on the shareholder record by Dec. 14. Grayscale says the fund currently has 29,502,100 shares at a value of 0.09284789 Ether (ETH) per share.....
Digital Currency Group’s Grayscale recently announced the Ethereum (ETC) Investment Trust or EIT. Barry Silbert, CEO and Founder of Digital Currency Group (DCG) is the man behind this effort. On the Grayscale website, the trust’s description reads: “Ethereum (ETC) Investment Trust allows investors to gain exposure to the price movement of Ethereum Classic through the purchase of a titled security.” What’s in a name? The problem seems to be the use of the word “Ethereum” in the name of EIT. While the Ethereum foundation is the trademark holder of Ethereum the brand, the currency has split....
Grayscale Investments says the registration statement on Form 10 that it filed with the U.S. Securities and Exchange Commission (SEC) on behalf of the Ethereum Trust has become effective. This means Ethereum Trust is now an official SEC reporting company and the second digital currency investment product to achieve the milestone. Grayscale’s BTC Trust (GBTC) is the first investment product to attain the status after its filing became effective on January 21 of 2020. An organization becomes a SEC reporting company or public company upon “registration pursuant to Section 12(g)....
Grayscale Investments is shutting down its Grayscale XRP Trust and liquidating its XRP holdings in order to distribute cash proceeds to the trust’s shareholders. The firm cited difficulty in converting XRP into U.S. dollars following the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple. Grayscale Axes XRP Trust Grayscale Investments announced Wednesday that it is commencing the “dissolution of Grayscale XRP Trust.” The company detailed that on Dec. 22, the U.S. Securities and Exchange Commission (SEC) decided “to file a federal court....
The asset manager says Ethereum’s mass appeal is growing. Bitcoin (BTC) got many investors hooked on crypto, but it’s Ethereum's Ether (ETH) that’s beginning to garner more attention, according to Grayscale. In a phone interview with Bloomberg, managing director Michael Sonnenshein said 2020 has seen a significant rise in “Ethereum only” investors, underscoring the asset’s growing appeal beyond the development community. He said: “Over the course of 2020 we are seeing a new group of investors who are Ethereum first and in some cases Ethereum only. [...] There’s a growing conviction around....