This multibillion-dollar crypto fund purchased over $140 million worth of Ethereum in 2020
BTC $7774 (+1.6%) • ETH $196 (-0.2%) • XRP $0.20 (+0.2%)
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Grayscale Investments, the investment arm of Digital Currency Group, has picked up a majority of all ether mined in 2020. The metric indicates massive institutional interest in Ethereum, which is soon moving to a Proof-of-Stake protocol.
Grayscale’s “Ethereum Trust” fund handles over $284 million in an index fund offered to institutional investors that track Ethereum’s long-term price movements while protecting against volatile drawdowns.
As per documents published on its site, Grayscale purchased approximately 756,540 ETH in 2020, a figure representing over 40 percent of all ether mined this year. The remaining 1.5 million ether are held by miners or crypto exchanges, assuming no ether was sold to retail investors.
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