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- Recently Grayscale has reopened the trusts of Ethereum to its investors after being closed since December
- It has also gained a lot of exposure after reopening the trusts as new names have joined in
- However, Grayscale has not stopped just after getting registrations but is planning on expanding further to gain more and more fame in the cryptocurrency market
At the end of December, the Ethereum Trust last closed its doors. On Monday, Grayscale Investment’s digital assets manager announced the Ethereum trust’s reopening to all its investors. The company also announced that the share’s placement in the private sector would be made in a periodical manner all through the year. The trust was previously closed at the end of December, and five more trusts were closed along with it. Various trusts of Greyscale are offered to all its investors to expose themselves more to cryptocurrencies such as Bitcoin and Ethereum and grow without any hard challenges in buying and storing cryptocurrencies directly.
Till January 29, 2021, Ethereum, belonging to Grayscale, had an asset value worth more than $4 billion under their management as reported on Monday. Grayscale happens to be the owning company of CoinDesk and have registered over five trusts for the crypto assets. Many of these assets are in link with the DeFi space. However, the registrations of these trusts do not confirm the launch of the new investment outputs.
The perks of the reopening of these trusts
The reopening of the trusts would initiate public exchanges in buying and selling shares with the Ethereum Trust. It will provide a huge amount of exposure to one of the largest decentralized platforms without any headache about storage facilities, regulations or security. The organizations have admitted that it will be a preferable way of exchanging cryptocurrencies. It would not only be beneficial but highly economical for the companies, as earlier storage was a significant concern. It would help in the movement of prices with any underlying risks that previously came hand in hand with owning the cryptocurrency and storing it under their own provision.
Grayscale’s unstoppable motive
Even after reopening the trusts, regaining the public exchanges under their platform, Grayscale has not stopped its expedition. It is gaining exposure and gradually expanding, as five new trusts have registered under its public investment category, which is a leap for the company. All these companies had various crypto bases. However, it does not mean that just due to registrations, the market will start offering public funds to the trust, but it has shed light on the path in which Grayscale can move in the future to expand.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
