Ethereum Investment Trust shares on Grayscale Investments are selling at a high price presently. It is trading more than two times the price which ETH has ever traded in the past. This indicates that it is in high demand right now.
Messari has just reported that the selling price of Ethereum Investment Trust (ETHE) on Grayscale Investments is 750% more than the market price of the main asset on the secondary markets.
Grayscales’ ETHE premium has been increasing since the year started. In February, the premium was at 220% of Ether (ETH).
The advantage of ETHE is that it makes ETH more popular and investors do not need to handle the cryptocurrency by themselves. Institutional investors often prefer this kind of investment.
The premium of ETHE has been rising
ETHE was seen trading at around $2,905 for one ETH. This is 46% more than the highest value of Ether in the cash market since its history.
Investors thought they had seen it all in February but in April, the premium climbed further to 550% more than the price of Ether.
The increase in the price of ETHE has been linked to the growing demand of ETH by institutional investors. Investors are preparing for the ETH 2.0 rollout.
According to Ray Sharif-Askary, the director of Grayscale Investments, more people have shown interest in crypto investments this year than last year. He revealed that up to 38% of customers that patronize the firm have at least two investments in a crypto asset, which is a significant improvement compared to 9% in 2019.
Grayscale has bought more BTC than the amount supplied
Grayscale has bought a lot of Bitcoins recently. It started first from purchasing an amount equivalent to 33% of BTC mined in the first quarter to buying 1.5 times the amount mined after the halving.
In about five weeks after the halving, Grayscale has accumulated 19,000 BTC which is equivalent to $178.6 million.