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FINRA green lights Ethereum Trust for individual investors
FINRA green lights Ethereum Trust for individual investors
Grayscale Investments, a firm for digital currency investment, recently made an announcement regarding Ethereum, the second largest digital currency in the crypto market and stated that Financial Industry Regulatory Authority [FINRA] has approved its Ethereum Trust, ETHE.
Marissa Arnold, Grayscale’s spokesperson, stated in an email that without the hassle of buying and protecting Ethereum, all investors will be able to take advantage of the price movement of the cryptocurrency.
The current price of Ethereum is $243, traded down at a rate of 4% from a 24-hours high of $255.
Previously, the trust only provided services to accredited investors with a minimum requirement of twenty-five thousand dollars ($25000) as an investment. Now even novice investors can own and trade an instrument tied to Ethereum along with their Apple and IBM shares. ETHE will be icon under which the security will trade over the counter (OTC).
The exact date of availability of security for trading has not yet been decided by Grayscale, but the approval by FINRA is a milestone towards a new era.
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Ahmad Asghar
A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.
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