Grayscale Bought $350 Million ETH This Feb

grayscale ethereum purchases feb 16 2021

The stock traded Grayscale Ethereum Trust (ETHE) has purchased $350 million worth of eth in the past two weeks. They announced in a filing with the Securities and Exchanges Commission (SEC) that 87,749.87885686 Ethereum, representing $153,732,197, was bought in just four days between February 8th and 11th. The other circa $200 million worth was bought from the first to the 5th of February, bringing it to a total of $350 million. The company opened this month with 2.93 million eth. It now holds ◊3.13 million, so adding 200,000 eth or about 0.2% of ethereum’s total supply. That’s an increase of about 7% of their total holdings in just two weeks, indicating there’s significant demand from sophisticated investors for ethereum. Interestingly the company has not purchased any further since February 11th, presumably because of the extended weekend. That might potentially lead to pent up demand as business resumes, with it to…

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