Ethereum Adoption: Grayscale Just Bought $38 Million In Ethereum

Ethereum has been making a lot of headlines lately, and the coin is getting more and more attention.

Now, it’s been just revealed that the digital asset manager. Grayscale just bought $38 million worth of Ethereum (ETH) on behalf of its investors.

According to the latest reports coming from the Daily Hodl, the firm temporarily closed the Grayscale Ethereum Trust in late December.

It’s been also reported that it’s back online, and data from the analytics company Skew shows the investment product is up and running.

Grayscale manages over $4 billion worth of ETH

According to the same online pbulcaiotn mentioned above, if we also consider the additional 24,796 ETH, Grayscale now manages more than $4 billion worth of ETH.

Grayscale’s recent ETH purchase comes as the digital asset has been breaking ATHs ahead of the launch of the Ethereum futures on the Chicago Mercantile Exchange (CME) on February 8th.

Using data from Ethereum options trading, Skew said that about 25% of traders are expecting ETH to breach the $2,000 mark in the next 90 days.

At the moment of writing this article, ETH is trading in the green, and the coin is priced at $1,661.30.

Reddit teams up with Ethereum

In other recent news, Ethereum made it to the spotlight once again following the latest important move that the platform just made.

They teamed up with Ethereum Foundation in order to bring value and independence of the blockchain tech to over 50 million daily Redditers.

There’s an official post by the Reddit admin, u/jarins which stated that the platform would enhance its presence in the Ethereum ecosystem in order to accelerate scaling and the resources for the network.

It’s also important to state that the admin mentioned that the platform had kept a decentralized environment in order to help users grow their own communities.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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