{"id":126420,"date":"2020-12-04T21:17:47","date_gmt":"2020-12-04T18:17:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-only-investors-are-growing-according-to-grayscale\/"},"modified":"2020-12-04T21:17:47","modified_gmt":"2020-12-04T18:17:47","slug":"ethereum-only-investors-are-growing-according-to-grayscale","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-only-investors-are-growing-according-to-grayscale\/","title":{"rendered":"# \u2018Ethereum only\u2019 investors are growing, according to Grayscale"},"content":{"rendered":"

“# \u2018Ethereum only\u2019 investors are growing, according to Grayscale <\/strong>”
\n<\/p>\n

Bitcoin (BTC) got many investors hooked on crypto, but it\u2019s Ethereum’s Ether (ETH) that\u2019s beginning to garner more attention, according to Grayscale.\u00a0<\/p>\n

In a phone interview with Bloomberg, managing director Michael Sonnenshein said<\/a> 2020 has seen a significant rise in \u201cEthereum only\u201d investors, underscoring the asset\u2019s growing app<\/a>eal beyond the development community. <\/p>\n

He said: <\/p>\n

\u201cOver the course of 2020 we are seeing a new group of investors who are Ethereum first and in some cases Ethereum only. […] There\u2019s a growing conviction around Ethereum as an asset class.\u201d<\/p><\/blockquote>\n

Grayscale manages a class of funds that provide investors with direct exposure to the cryptocurrency market. Although Grayscale\u2019s Bitcoin Trust remains the most popular fund, its Ethereum Trust has also seen a sharp rise in net inflows. <\/p>\n

In the third quarter, weekly inflows into the Grayscale Ethereum Trust averaged<\/a> $15.6 million. Net investments in the larger Bitcoin Trust averaged $55.3 million per week. The Grayscale family of funds saw record inflows at the end of October.<\/p>\n

Earlier this week, Grayscale announced that its Ethereum Trust would undergo a nine-for-one split on Dec. 17, a move that could make the fund more attractive to investors. As Cointelegraph reported, shareholders on record as of Dec. 14 will receive eight additional shares for each share held.<\/p>\n

A big part of Ethereum\u2019s broadening appeal is the explosion of decentralized finance, or DeFi, applications being built on top of the blockchain. Bloomberg Intelligence strategist Mike McGlone said Ethereum \u201cappears to be maintaining platform leadership status\u201d in this emerging market. <\/p>\n

Ether price has gained more than 353% year-to-date but remains at less than half of its all-time high. <\/p>\n

Speaking to the future of Ethereum, Sonnenshein said the smart contract platform \u201chas along the same lines of the staying power Bitcoin has.\u201d <\/p>\n