Asset manager firm Grayscale shares his views on Ethereum’s role in the wider crypto ecosystem.
Summary of the News
- Asset manager Grayscale has published a new guide for investors looking to get into Ethereum.
- This is similar to Grayscale’s Bitcoin guide released last summer.
- Grayscale manages more than $ 4 billion in assets in Ether (ETH), Ethereum’s native token.
Grayscale, the most dominant asset manager in crypto, has published a new guide for investors looking to enter the Ethereum world. The company published a similar guide called “Valuing Bitcoin” last summer.
ETH Increased 26% in the Last Seven Days
The publication time of the guide makes perfect sense. The crypto market is talking about breaking Ethereum’s all-time high earlier this week. The second largest cryptocurrency by market cap, ETH has risen 26% in the past seven days.
Ethereum is recording a new all-time high almost every hour. The crypto currency is currently at the level of $ 1,670.
The guide published by Grayscale describes Ethereum as “transparent and variable.” Besides, the guide underlines that ETH is an “interest-bearing asset”.
Ethereum 2.0 Upgrade Will Be Highly Effective in the Long Term
The firm thinks the Ethereum 2.0 upgrade will have an extremely positive effect for ETH value in the long run. “Between the enormous amount of activity in Ethereum, the economic advances in Ether, and the promise of increased scalability with Ethereum 2.0, there is a lot for the Ethereum community to get excited about,” said Phil Bonello, Grayscale’s research director. using expressions.
Grayscale’s most popular investment vehicle remains Grayscale Bitcoin Trust (GBTC). Since there are still no real Bitcoin ETFs available in the US, Grayscale remains a very powerful alternative. As of today, the company has over $ 23.6 billion in Bitcoin.
Grayscale includes seven single-asset trusts and a large diversified equity fund, two of which are in Ethereum and Ethereum Classic. The firm currently has $ 4.7 billion in Ethereum.