‘Ethereum only’ investors are growing, according to Grayscale
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....
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Ethereum makes up a large part of crypto-asset manager Grayscale’s portfolio. In a recent report, it shows that Grayscale now has over 3 million ETH in its asset under management (AUM), amounting to more than $10 billion. This makes the asset manager one of the largest holders of Ethereum in the space. Related Reading | Crypto Market Goes Into “Extreme Greed,” What This Means For Bitcoin The asset manager had gradually increased its ETH holdings over time, adding almost 20,000 ETH to its portfolio back in February. The recent filings show that the New York-based asset manager has....
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