Good news for Ethereum hodlers or for people that are interested in investing in ETH. Grayscale Investments has been buying around 50% of all mined ETH in 2020.
Grayscale Investments is one of the leading digital asset management companies and takes care of storing, transferring and managing cryptocurrencies for institutions that do not want the hazzle of going through exchanges and holdings them themselves. Grayscale is one of the most trusted management companies of cryptocurrencies and institutions gladly use them for acquiring Bitcoin and Ethereum.
It turns out that institutions have a growing interest in Ethereum this year and Grayscale is seeing this. They are buying a lot of ETH to satisfy the demands they get. So far they have bought around 48,4% of all mined ETH this year ! You can find all the exact figures by clicking on the link that is provided at the end of this article.
During the first quarter of 2020, institutions have been accumulating ETH on a big scale. The Ethereum Trust on Grayscale has seen an inflow of 110 million dollar, which is more than all the former inflows of the last two years combined (95.8 million dollar). Grayscale.co shows this graph :
You can see a clear growth of interest in Ethereum and this is great news for the hodlers. People that are interested in Ethereum should take notice of this. Even though the PlusToken scam is still holding a lot of ETH (most likely) and might sell it in the future, there is still a lot of interest from institutions to get hold of this crypto and they are even willing to pay a big premium on it. The institutions really believe in Ethereum and that it will grow in price, just like they believe in Bitcoin.
Ethereum 2.0 is most likely the reason for the growing interest in this cryptocurrency. Ethereum is going from a proof-of-work towards a proof-of-stake system. Staking Ethereum will be a big deal and can cause a big spike in price. Supply will simply diminish if people are willing to stake it and claim rewards. Furthermore this update should give more scalability to the database.
Hopefully we will see a continuance in this trend and keep on hodling !
