Someone Buys Grayscale Ethereum Trust for Over $2,000

Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), Author: SAMUEL HAIG, reproduced by Odaily with authorization.

Editor's Note: This article comes from

Cointelegraph Chinese (ID: CointelegraphChina)

, Author: SAMUEL HAIG, reproduced by Odaily with authorization.

According to data released by encryption analysis company Messari, the price of Grayscale Investment’s Ethereum Investment Trust (ETHE) is 750% higher than the market price of its underlying assets in the secondary market.

Since the beginning of the year, the premium of the Grayscale Fund has widened significantly, with the price of ETHE in February being 220% of the spot price of ETH.

ETHE provides exposure to ETH without the need for investors to handle or custody cryptocurrencies and is favored by institutional investors.

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ETHE recently traded at the equivalent of $2,905 per ETH, which is 46% higher than the all-time high price of ETH spot.

In recent months, the premium of ETHE relative to ETH has continued to expand. In early April, ETHE was 550% higher than the spot price of ETH.

The widening spread appears to be driven by growing institutional demand for ETH ahead of the launch of ETH 2.0, with Grayscale buying $110 million worth of ETH so far in 2020.

In a recent interview, Ray Sharif Askary, Grayscale’s head of investor relations, noted that 38% of Grayscale’s clients currently own more than one crypto asset, up from 9% a year ago.