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An announcement from Grayscale Ethereum Trust (ETH) (ETHE) is now available.
Grayscale Investments, LLC has entered into agreements with several financial firms to act as Authorized Participants for the Grayscale Ethereum Trust, enabling the creation and redemption of large blocks of shares known as Baskets, exclusively through cash transactions at present. Shares of the Trust began trading on NYSE Arca, and a redemption program was approved, allowing shares to be exchanged for Ether. Regulatory approval is pending for in-kind transactions, which would permit direct deposits and distributions of Ether by Authorized Participants. The Trust has also distributed shares of a new Grayscale Ethereum Mini Trust to existing shareholders and has made updates regarding U.S. federal income tax consequences and the handling of Incidental Rights and IR Virtual Currency.
For a thorough assessment of ETHE stock, go to TipRanks’ Stock Analysis page.