New York, June 20, 2019 (GLOBE NEWSWIRE) -- Grayscale Investments, LLC (“Grayscale”), a global leader in digital currency asset management, today announced that trading has commenced for common units of fractional undivided beneficial interest (“Shares”) in Grayscale Ethereum Trust (“ETHE”).
Following FINRA approval for a public quotation and DTC eligibility, ETHE is now available to trade on the OTC Markets under symbol: ETHE. Launched in 2017, ETHE is sponsored by Grayscale. ETHE is an open-ended trust that holds Ethereum and derives its value solely from the value of Ethereum. Investors in ETHE can gain exposure to the price movement of Ethereum without the challenges of buying, storing, and safekeeping Ethereum. As of May 31, 2019, each Share of ETHE represents ownership of 0.09641904 Ethereum. ETHE will not generate any income and regularly distributes Ethereum to pay for its ongoing expenses. Therefore, the amount of Ethereum represented by each Share gradually decreases over time.
Grayscale's investment products are available to institutional and accredited individual investors through their respective ongoing private placements. Grayscale’s single-asset investment products provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC). Grayscale’s diversified investment vehicle, Grayscale Digital Large Cap Fund™, provides exposure to the top digital currencies by market capitalization. As of May 31, Grayscale managed approximately $2 billion in assets.
ETHE is Grayscale’s third publicly quoted investment product. In addition to ETHE, Grayscale Bitcoin Trust™ (OTCQX: GBTC) and Grayscale Ethereum Classic Trust™ (OTCQX: ETCG) are also publicly quoted and available to all individual and institutional investors. Investors can find current financial disclosure and Real-Time Level 2 quotes for Shares of ETHE on www.otcmarkets.com/stock/ETHE/overview.
About Grayscale Investments, LLC
Grayscale Investments is the world’s largest digital currency asset manager. With a proven track record and unrivaled experience, we give investors the tools to make informed investing decisions in a burgeoning asset class. As part of Digital Currency Group, Grayscale accesses the world’s biggest network of industry intelligence to build better investment products. We have removed the barrier to entry so that institutions and individual investors can benefit from exposure to digital currencies. Now, forward-thinking investors can embrace a digital future with an institutional grade investment. Grayscale is headquartered in New York City. For more information on Grayscale, please visit www.grayscale.co or follow us on Twitter, @GrayscaleInvest.