Behind the surge of ETH: Grayscale has bought nearly half of the ETH mined in 2020, and Ethereum 2.0 has made investors more interested

Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)

, Author: Jordan Lyanchev , Compiler: Kyle, Published with permission.

Leading digital asset manager Grayscale Investments has purchased nearly 50% of all ETH mined in 2020.

The firm’s report today outlines the growing interest in ETH among institutional investors, suggesting that the upcoming launch of Ethereum 2.0 is driving this interest.

secondary title

Grayscale crazily buys ETH

Meanwhile, as of December 31 last year, Grayscale Investments Ethereum Trust (ETHE) had issued 5,230,200 shares. As of April 24, 2020, the company has 13,255,400 shares owned, according to data on its website.

At 0.09427052 ETH per share, this means that Grayscale purchased 756,239.777 ETH during this period. Considering all the numbers above, this means that the amount of ETH that Grayscale bought in 2020 is exactly 48.4% of the total ETH mined in 2020.

image description

Grayscale ETH flows in. Source: grayscale.co

The upcoming Ethereum 2.0 version will complete the migration from the current Proof-of-Work (PoW) consensus algorithm to Proof-of-Stake (PoS), which may be one of the main reasons behind the high ETH purchases. In the annual document on the development of Ethereum, Grayscale clearly introduced and explained the new concept of Ethereum 2.0, saying that one of the benefits is the increased scalability of the database.

secondary title

Ethereum Price and Grayscale Premium