Grayscale Bought $60 Million ETH – Trustnodes

Grayscale Bought $60 Million ETH – Trustnodes

The Grayscale Ethereum Trust (ETHE) has bought more than 31,500 eth according to their latest filing with the Securities and Exchanges Commission.

“The Trust issued 3,077,800 Shares… for an aggregate of 31,587.51268272 Ethereum representing $58,676,893,” they said. “As a result, there are 307,601,300 Shares issued and outstanding as of February 23, 2021.”

That’s slightly lower than their previous purchases of about $100 million worth of eth a week.

However for a bit they slowed down considerably, with sophisticated investors only now seemingly back to buying.

That is probably in part because eth fell by about 35% from $2,050 to a brief low of $1,360 with it currently trading at $1,630.

The ethe premium also seems to have dropped to now $17.23 per share, with each share equalling 0.01 eth.

Previously ethe went for as much as $23.40 in December, with some of this Grayscale buying potentially due to taking advantage of the premium which still is considerable at more than 10%.

In addition it appears much of this eth was bought on Monday, with a new week beginning for Grayscale on Tuesday.

So we’ll have to wait until next week to see how much of the dip was bought by institutional investors during this volatile end of February.

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