Grayscale has got approval from FINRA, the Financial Industry Regulatory Authority, to list shares from its Ethereum trust publicly for the retail investors, said the firm.
The Digital Currency Group has 10 funds in management, the vast majority of which are just accessible to certified investors. After this news, the Ethereum Trust, which is similar to the bitcoin trust to Grayscale’s Bitcoin Trust, will be freely traded over the counter along with the other securities. Grayscale does not operate as a normal exchange, which guarantees greater liquidity, lower expenses, and more extensive accessibility.
The project aims to build a trading platform and is supported, among others by billionaire VC fund Tim Draper.
However, Grayscale says it will enable investors to invest in Ether price movements without the trouble of “buying, storing, and safekeeping Ethereum.”
Grayscale Ethereum trust will launch I two weeks under the ticker ETHE.
According to an announcement on twitter the firm manages $1.9 billion.
“In the first Q of 2019, Grayscale raised $42.7 million into its single-asset and diversified investment products, marking a 42% increase in quarter-over-quarter product inflows.” According to a report published by the firm.
Grayscale became famous recently with their advertising campaign making a call to drop gold and jo join the bitcoin revolution.