Ethereum (ETH) has hit a new all-time high, with the cryptocurrency currently valued at $1,571. Amidst the rising demand for digital assets, Grayscale has <a href="https://twitter.com/Grayscale/status/1356719277856993286" target="_blank" rel="nofollow noopener">revealed</a> it has added $38 million worth of ETH. Grayscale’s total ETH AUM has now climbed up to $4.5 billion.
<h2><strong>Grayscale Recently Reopened Its Ethereum Trust</strong></h2>
A filing released by institutional crypto fund manager Grayscale has <a href="https://www.cryptoknowmics.com/news/grayscale-ethereum-trust-announces-plan-on-splitting-shares/">revealed</a> that its Ethereum Trust product currently holds an underlying value for ETH.

Grayscale, one of the market’s leading digital asset managers has recently reopened its publicly traded product Ethereum Trust (OTCQX: ETHE) to accredited investors for private placement. The addition of ETH comes just less than a week before the scheduled launch of ETH Futures on the CME.

With the launch of ETH Futures, traders will have the ability to enter short positions on the cryptocurrency. It will also provide investors the ability to hedge against their spot positions. This will likely make ETH an attractive investment, especially for institutional investors.

https://twitter.com/Grayscale/status/1356719277856993286
<h2><strong>Ethereum Makes a New ATH</strong></h2>
Ethereum is currently trading near $1,560, the <a href="https://www.cryptoknowmics.com/news/eth-above-1550-11-up-watch-for-1663/">highest ever price</a> in its five-year history. Its previous high was recorded around the $1,350 level in January 2018.

Data from Santiment have revealed that Ethereum’s rising price levels are largely attributed to new retail investors. As new daily <a href="https://www.cryptoknowmics.com/news/ethereum-address-creation-reaches-35-month-high-after-adding-new-addresses/">addresses</a> created for ETH have also hit an all-time high on the charts.

https://twitter.com/santimentfeed/status/1356699964404072452

At the current price, Ethereum is already trading over 100% gains year-to-date. Possibly the price of Ether is likely to rise at much higher levels ahead in 2021 with more institutional inflows.

Grayscale believes that the later stages of Ethereum’s 2.0 upgrade, which is still years away, could be a net positive for the value of ETH. Grayscale has seven other single-asset trusts, two of which are in Ethereum and Ethereum Classic, and a diversified large-cap fund. Its most popular investment vehicle remains the <a href="https://www.cryptoknowmics.com/news/grayscale-bitcoin-trust-holds-more-than-500k-bitcoin/">Grayscale Bitcoin Trust</a> (GBTC), which works almost similar to a Bitcoin ETF.

Grayscale Buys Ethereum Worth $38 Million as ETH Exceeds New ATH

Grayscale has revealed it has added $38 million worth of ETH. Grayscale’s total ETH AUM has now climbed up to $4.5 billion.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Grayscale Buys Ethereum Worth $38 Million as ETH Exceeds New ATH

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