Institutional investors' appetite for the crypto asset Ether (ETH) looks even higher. This is reflected in the purchase of ETH worth IDR1 trillion by the Grayscale company some time ago.
Based on a written report submitted by Grayscale to the SEC in the US, it has purchased 1,1455 ETH for a total of US $ 74,135,609 (approximately IDR1 trillion).
The decision follows an extraordinary year for Ethereum, namely the growth of projects in the DeFi sector and the launch of Ethereum 2.0. Resistance to the price of ETH on the market is created.
We can interpret that Grayscale's purchase of ETH is a sign of institutional interest and shows just how much appetite traditional investors have for this emerging market.
Unlike most exchanges, Grayscale products are derivative products that are fully regulated in the United States, making them very safe to use and operate with.
Investors do not buy ETH directly, but by buying shares issued by Grayscale. "ETH Shares" sells for US $ 134 per share, based on the latest data.
12/14/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $ 13.0 billion $ BTC $ BCH $ ETH $ ETC $ ZEN $ LTC $ XLM $ XRP $ ZEC pic.twitter.com/3KCMu0z8Dy
- Grayscale (@Grayscale) December 14, 2020
Grayscale is also listed as a company that directly owns and manages Bitcoin, outside the crypto asset exchange, confident of reaching more than 500,000 BTC.
That amount of Bitcoin was also issued in shares that investors could buy for US $ 22 per share, based on the latest data.