New York, May 23, 2019 (GLOBE NEWSWIRE) -- Grayscale Investments, LLC (“Grayscale”), a global leader in digital currency asset management, today announced that common units of fractional undivided beneficial interest (“Shares”) in Grayscale Ethereum Trust™ (“ETHE”) were approved by FINRA for a public quotation (symbol:ETHE) on the OTC Markets.
Launched in 2017 and 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 April 30, 2019, each Share of ETHE represents ownership of 0.09662399 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.
There will be no trading volume in the Shares’ public quotation until the Shares are DTC eligible, which ETHE is expected to receive soon. Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for Shares of ETHE on the OTC Markets website once trading commences.
Grayscale’s investment products are available to institutional and accredited individual investors. Grayscale sponsors nine single-asset investment products that provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC). In 2018, Grayscale introduced its first diversified investment product, Grayscale Digital Large Cap Fund™, which provides exposure to the top digital currencies by market capitalization. As of May 15, 2019, Grayscale managed approximately $1.9 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.
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.