Institutional Investors Buy Grayscale Ethereum Trust at a 426% Premium
Editor's Note: This article comes fromNakamoto Shallot (ID: xcongapp), Odaily is authorized to publish.
Editor's Note: This article comes from
Nakamoto Shallot (ID: xcongapp)
Nakamoto Shallot (ID: xcongapp)
, Odaily is authorized to publish.
Crypto products from Grayscale Investment, a subsidiary of Digital Currency Group, are trading at steep premiums. At the time of writing, the premium on Grayscale’s Bitcoin Trust (GBTC) has surged by more than 17%.
Currently, Grayscale Bitcoin Trust investors pay more than $10.50 for an asset worth $9.85. Compared to Ethereum (ETH), the premium on Bitcoin Trust is modest. Investors in the Grayscale Ethereum Trust (ETHE) are required to pay a NAV premium of up to 426%.
Earlier this week, investors were required to pay $112 for an asset worth just $21.29. Each share of Grayscale Ethereum Trust contains 0.09485996 ETH.
Demand for Ethereum comes primarily from institutional investors, as 71% of corporate inflows come from this group.
In an interview in late February, managing director Michael Sonnenshein spoke about the growing demand from institutional investors:
