Crypto Giant Grayscale Just Bought $38,000,000 in Ethereum on Behalf of Institutional Investors

By Daily Hodl Staff

The digital asset manager Grayscale just bought $38 million worth of Ethereum (ETH) on behalf of its investors.

The firm temporarily closed the Grayscale Ethereum Trust in late December.

[adinserter block="1"]

Now that it’s back online, data from the analytics company Skew shows the investment product is up and running.

Source: Skew

With the additional 24,796 ETH, Grayscale now manages more than $4 billion worth of the second-largest cryptocurrency.

Grayscale’s recent ETH purchase comes as the crypto asset breaks all-time highs ahead of the launch of the Ethereum futures on the Chicago Mercantile Exchange (CME) on February 8th.

Using data from Ethereum options trading, Skew says about 25% of traders expect ETH to breach the $2,000 mark in the next 90 days.

At time of writing, ETH is worth $1,681.77, according to CoinMarketCap.

Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
[adinserter block="1"]

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Gleti