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.
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.
Ether probability distribution widens as implied vol picks up ahead of the CME listing.
Probability ETH > $2,000 in three months = 25% pic.twitter.com/GgblwYP9Tw
— skew (@skewdotcom) February 3, 2021
At time of writing, ETH is worth $1,681.77, according to CoinMarketCap.
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