The leading cryptocurrency investment firm Grayscale Investments continues to expand its cryptocurrency holdings as the firm has marked another investment in the cryptocurrency industry. However, this is not, as usual, an investment made in the world’s largest digital currency Bitcoin rather the firm has invested in Ethereum (ETH), the native digital currency of the world’s second-largest blockchain network.

A total of 11455 ETH Purchased by Grayscale

Grayscale has revealed its latest cryptocurrency investment in a report issued by the firm to the United States Securities and Exchange Commission (SEC). As per this report, the firm has bought an amount of more than $74 million in ETH tokens. This means that Grayscale has added around 11455 ETH tokens to its Ethereum Trust (ETHE) which is the second-largest fund of the firm after Bitcoin which is the largest trust fund of the company.

This investment on the part of Grayscale in Ethereum has come following the recent investment in Bitcoin in which the firm made last week when it announced that it has bought an amount of more than $280 million worth of Bitcoin.

Grayscale’s massive investment in Ethereum shows that the firm is continuously increasing its stash of ETH alongside the Bitcoin stash. Out of the total funds of Grayscale Investments, ETH represents 13.7 percent of it. While on the other hand, Grayscale Bitcoin Trust (GBTC) represents 82 percent of the total funds.

Moreover, this token purchase was facilitated by the United States-regulated Over-the-Counter (OTC) cryptocurrency trading desk Genesis Trading which served as an intermediary for this purchase.

“Since the sales reported on the most recently filed Current Report on Form 8-K by Grayscale Ethereum Trust (ETH) (the “Trust”), the Trust issued 1,416,300 Shares at varying prices … in private placement transactions exempt from the registration requirements of the Securities Act pursuant to Rule 506(c) thereunder for an aggregate of 131,455. 43747295 Ethereum representing $74,135,609.”

A sign of increasing institutional interest in Ethereum

Grayscale’s huge purchase of Ethereum indicates the fact that the institutional interest in the world’s second-ranked digital currency Ether is increasing significantly.

On the other hand, the Ethereum Trust of Grayscale is also providing major financial institutions the best way to build exposure to ETH and invest in it.