The cryptocurrency space has not only been about the remarkable rise in the price of Bitcoin this year. Ethereum, the world’s second-biggest cryptocurrency by market cap, has also done well and this past weekend, it hit $1000 per token.
Hence, it could be worthwhile for investors to take a closer look at the Grayscale Ethereum Trust (ETH) OTCMKTS: ETHE), which has attracted substantial investments from institutions in recent months. In 2020 alone, the ETHE stock performed impressively and rallied by as much as 700% as investors continued to pile in.
It is one of the easiest ways in which an investor can get exposure to Ethereum and hence, it is not a surprise that the ETHE stock has been in demand. At this point in time, the total value of assets under management at the trust stands at as much as $1.7 billion.
It is believed by many experts that once the Bitcoin rally subsides, money could flow into Ethereum. If that happens, it could be another boost for the ETHE stock.