Ethereum {XRP}
Ethereum has become the first crypto currency to become publicly traded, as the Greyscale Ethereum Trust has listed on the OTC in the USA.
This is a significant step as it confirms the acceptance by Wall St. of crypto’s as financially tradable assets.
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Grayscale have announced that their Ethereum based security, called the Grayscale Ethereum Trust {ETHE} is now available to trade on OTC Markets in the USA.
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Grayscale describe ETHE as “an open-ended trust that holds Ethereum.”
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In otherwords, it is a means of investing in Ethereum without actually having to go to the trouble of having to open a crypto wallet and buy the currency that way. This is apparently the first publicly tradeable quoted security solely for investing in the value of a crypto currency.
Grayscale’s Director of Investments and Research, Matt Beck commented:
“Cryptocurrencies , such as Ethereum , offer exposure to a unique set of market opportunities and risks that are uncorrelated to traditional assets. As a result, they can further diversify modern portfolios, enhancing returns per unit of risk (when positions are sized appropriately and maintained over long investment horizons).”
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Grayscale Investments, also offers a trust for bitcoin, (Grayscale Bitcoin Trust), plus trusts for Ripple, Bitcoin Cash, Ethereum Classic, Litecoin, Stellar Lumens, Zcash , and Horizen.
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Grayscale warns in their disclaimer that the trusts are not registered with the SEC!
“The Products are NOT registered with the Securities and Exchange Commission (“SEC”) or any other regulatory agency in any jurisdiction, and are NOT subject to the same regulatory requirements as SEC-registered exchange traded funds or mutual funds […]
The Offered Products are being offered in private placements pursuant to the exemption from registration provided by Rule 506(c) under Regulation D of the Securities Act. As a result, the shares of each Offered Product are restricted and subject to significant limitations on resales and transfers.”