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October 2, 2022
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Grayscale: The number of new Ethereum investors – is growing

Michael Sonnenshein, managing director at Grayscale Investments, said that a significant number of new investors have started to arrive in 2020 Ethereum. According to him, it is related to the fact that the community has started to accept ETH as an asset class.

Sonnenshein expressed his views in a recent interview with Bloomberg. He compared ETH and BTC in terms of popularity and added that Ethereum had managed to attract the attention of institutional investors. A board member of a $ 12 billion investment fund mentioned that it was the second largest cryptocurrency in the world it is not just an ordinary altcoin, and in 2020 it gained popularity among the giants from Wall Street.

“Throughout 2020, we see a new group of investors investing in Ethereum for the first time, and in some cases only Ethereum. There is a growing perception around ETH that it is an asset class. The development of this asset class continues to strengthen “

– Sonnenshein said in an interview,

Competition with Bitcoin

Despite the fact that the community treats BTC and ETH in a completely different way, there has always been strong competition between the two coins. This year was particularly good for the entire market as institutional investors started to take huge positions. Institutions mainly buy Bitcoinhowever, Sonnenshein’s recent speech shows that Ethereum is not far behind when it comes to gaining appeal on Wall Street.

Ethereum has as much strength as it has left Bitcoin Sonnenshein said.

The current capitalization of Ethereum is around $ 67 billion, while the Bitcoin marketcap is $ 357 billion. Despite the huge difference in capitalization, ETH gained over 300% in value this year and BTC around 150%.

Grayscale experienced a surge in November volume Ethereum. Last week, the company announced that it already manages assets worth $ 12.5 billion.

ETH has started its journey towards switching to “proof-of-stake. Earlier this month, Beacon Chain was launched. Currently, the Ethereum 2.0 deposit contract has over one million ETH.

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