28.10.2021

Grayscale Adds $38M Worth of ETH to its Ethereum Trust (ETHE)

Ethereum Futures Open Interest Hits $5.4 Billion. Earlier today, Ethereum set a new all-time high of $1,570 – Binance rate.

Ethereum is currently experiencing all-time high values in anticipation of the CME Ethereum futures launch on the 8th of this month.

The new all-time high by Ethereum and the bullishness surrounding ETH resulted in a record-breaking $5.4 Billion in open interest on its futures contracts. The team at CryptoRank Platform highlighted this milestone via the following statement and accompanying chart demonstrating the record-breaking Ethereum futures open interest.

Ethereum Futures Open Interest Reached Record High of $5.4 Billion. After breaking through ATH, open interest on ETH futures set a new record high of $5.4B.

Summary:

  • Grayscale has added 24,796 ETH to its Ethereum Trust
  • This translates to roughly $38 million in Ethereum
  • Grayscale currently manages $27.5 Billion in digital assets
  • The bullishness surrounding Ethereum has led to ETH futures open interest hitting an all-time high of$5.4B

Yesterday, the Wall Street firm of Grayscale Investments purchased 24,796 ETH to add to its Ethereum Trust (ETHE). This amount in Ethereum translates to roughly $38 million and was highlighted by the team at Unfolded via the following statement and accompanying chart.

As Ethereum trust reopens, Grayscale adds $38m worth of $ETH.

Grayscale Assets Under Management hits $27.5 Billion

From the chart, it can be observed that subscriptions to the Grayscale Ethereum Trust had paused from around early December till when the company reopened subscriptions earlier this week.

The recent purchase of 24,796 Ethereum by Grayscale brings the total assets under management by the firm to $27.5 Billion. The team at Grayscale shared this milestone earlier today via the following tweet.

Ethereum’s Price is Yet to Exhibit Exhaustion

With respect to price, Ethereum is currently consolidating around the $1,550 price area with the previous all-time high around $1,470 acting as short term support.

Tomorrow, Consensys will be hosting a webinar with a focus on institutions that would like to participate in ETH 2.0 staking. The event is being held in partnership with Microsoft, Ledger and Secursys. Chances are that this event will increase interest in Ethereum. As a result, its value could rise higher before the CME ETH futures go live on Monday, February 8th.

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