Individual investors will be allowed to invest in Grayscale Ethereum Trust, described as “the first U.S. publicly quoted security solely invested in and deriving value from the price of ethereum.”
Grayscale spokesperson Marissa Arnold said, “All kinds of investors will be able to gain exposure to the price movement of ethereum without the challenges of buying, storing, and safekeeping ethereum.”
As of April 30, the trust managed around $7.5 million worth of the world’s second-biggest cryptocurrency by market capitalization.
The security will trade over the counter (OTC) under the ticker ETHE. Entry-level investors will be allowed to purchase and trade an instrument tied to ethereum, alongside their IBM and Apple shares. The trust, established in December 2017, initially was offered to accredited investors and required a $25,000 minimum investment.
Grayscale has not yet disclosed the exact date the security will be available for trading. With the FINRA approval at hand, it is estimated to start around two weeks.