ETHE Reaches $4 Billion in Market Cap

ethe stock grayscale eth jan 2021

The only stock traded product in America, GrayScale’s Ethereum Trust (ETHE), has reached $4 billion in market cap. That amounts to about 3% of ethereum’s entire market cap which has now risen to above $140 billion. The stock still trades at a significant premium with its price equivalent to about $1,460 per eth as each share, currently trading at $14.60, is backed by 0.01 eth. Yet for ethe, this $260 premium is a fall from the huge premium of some $6,000 when it opened in July 2019. If you are not aware of how this works, accredited investors who generally are very rich people with an income of $200,000 a year, can ‘mint’ a share at the eth equivalent price. Then they have to hold it for six months in this case, with the share sellable at the stock trading price. Currently there are 285 million such shares, but only…

Read the original article here