$5,200 Ethereum: Investor Buys ETH at Three Times Its All-Time High

An unknown cryptocurrency investor has recently paid a hefty premium on the price of Ethereum’s ether to gain exposure to the cryptocurrency, as data suggests he or she paid over $5,200 per ether when the cryptocurrency is trading at about $300.

As CryptoGlobe covered the Grayscale Ethereum Trust (ETHE) launched on over-the-counter (OTC) markets earlier this month, allowing retail investors to buy ETHE shares and gain exposure to the cryptocurrency ecosystem through it.

Like Grayscale’s Bitcoin Investment Trust (GBTC), investors pay a premium with ETHE as there’s only a limited number of shares out there. Those who buy them gain exposure to the underlying cryptocurrency without actually having to manage it, and Grayscale benefits by taking a fee to do so.

Currently, the firm has over $2.7 billion under management, as we can see each ETHE share has approximately 0.0962 ‘physical’ ether backing it. Read More at CryptoGlobe...

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