Grayscale Ethereum Trust (ETHE) has now been approved by the Financial Industry Regulatory Authority for trading on OTC markets. The trading will start soon. Grayscale is a US based cryptocurrency asset management firm.
“The secondary market really opens up the opportunity for any and all investors,” Michael Sonnenshein, the managing director told Bloomberg.
ETHE is an Ethereum tether, It is backed-up by Ethereum and their is an amount of Ethereum stored for all available ETHE trust, as of April 30, 2019, each Share of ETHE represents ownership of 0.09662399 Ethereum. So it has the same value as Ethereum at any given time, just that its is not being transacted on the Ethereum Blockchain. This gives an opportunity to investors to trade Ethereum without knowing anything about Blockchain or having an Ethereum wallet. This is a good way to bring cryptocurrency closer to the masses.