Grayscale's Ethereum Trust Becomes SEC Reporting Company

Plus a big Hollywood picture about...a crypto scam.

Happy Monday, Blockfolians

The Lede

Bitcoin and Ether are well in the green on this beautiful Monday. Part of the reason seems to be news that Grayscale’s Ethereum Trust had been granted SEC reporting status.

Barry Silbert's Grayscale Investments Cryptocurrency Fund Sees Green  despite Bitcoin Price Slump | BTCMANAGER

This means that Grayscale will regularly disclose how much money is flowing through in public filings. This status tends to come with increased trust from sophisticated investors - which also could mean more liquidity flowing through the pipes. Grayscale’s Bitcoin Trust received similar designation in January.

Grayscale said the demand came from many of those same investors who were already involved in the Bitcoin Trust:

"We're seeing interest from investors who have become more comfortable with digital currencies through bitcoin exposure, and are now looking at how else they can diversify within the asset class,"

Seems good for the industry to us!

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$50,000,000

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Final Thought

Just what we need.