Grayscale's Ethereum Trust hits $1 billion in assets under management

Crypto asset manager Grayscale's Ethereum Trust has crossed the $1 billion mark in assets under management (AUM).

The milestone means Grayscale is now managing a billion-dollar worth of ether (ETH) on behalf of its clients. Grayscale's Ethereum Trust allows investors to take indirect exposure to ETH in the form of a security, while avoiding the challenges of buying and storing ETH directly.

Last month, Grayscale's Ethereum Trust became a registered reporting company with the Securities and Exchange Commission to file quarterly and annual reports with the regulator. 

Besides Ethereum Trust, Grayscale offers several investment products, and its total AUM stands at $8.5 billion as of November 5.

About Author

Yogita is a senior reporter at The Block and covers all things crypto. Before joining The Block, Yogita worked for CoinDesk and The Economic Times. She can be reached at [email protected] Follow her on Twitter @Yogita_Khatri5.