Increasing institutional interest in Ethereum (ETH) continues unabated in the last quarter. According to the latest SEC filing, institutional investors bought shares of Grayscale Ethereum Trust (ETHE), showing 20% more interest in the leading altcoin project in Q3 2021.
Institutional investors trust Ethereum more
Shares of some of the largest institutions in Grayscale Bitcoin Trust (GBTC) fell 2.6 percent, according to the data. It shows that institutional players trust Ethereum more than Bitcoin (BTC) at this point. Senior investor Raoul Pal expects Ethereum (ETH) to reach price levels of $40,000 by March 2022. In addition, a total of $74.6 million in corporate inflows was recorded in Q3 2021, according to the SEC filing.
Who owns the largest Grayscale Ethereum Trust (ETHE)?
Ark Invest, Cathie Wood’s wealth management company, has become one of the most aggressive buyers of Grayscale products. Ark Invest holds the largest individual stake in Gryascale’s Bitcoin and Ethereum products. As of now, Ark holds 82 percent of all GBTC shares and approximately 43 percent of all ETHE shares. While DeFi applications and NFTs have contributed greatly to the development of Ethereum, ETH continues to be in greater demand as a cryptocurrency investment.
Leading altcoin proved itself last
cryptocoin.com After the September performance of Ethereum, which we quoted as the following, there was another strong October rally with 40%. Also, in the early hours of Monday, November 15, the Ethereum Blockchain witnessed one of the largest circulations of dormant tokens in its history. On-chain data source Santiment reports:
Ethereum saw one of the biggest days of idle circulation of the ATH level on Monday, with 1.82 million ETH moving addresses for the first time in 5 years. Our data shows that around 2 million ETH were moved between Kraken wallets in just 10 minutes.
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