ETHE Stocks, trading on American over-the-counter platform OTCQX, are 83% up from June 1st, 2020. Today, this asset gained almost 21% and has kept surging.
Where real decoupling occurs
It is obvious that the insane upmove has no sign of correlation with its basic indicator, the Ethereum (ETH) price. The second cryptocurrency has gained only 3% this month. ETHE's enormous run even shrugged off the fake 'Bart Simpson' rally of June 1-2.
It is worth noting that, according to the official statement of Grayscale, one asset of this investment instrument (ETHE) represents only 0.094 Ethers (ETH). As a result, people buy it with an almost four-digit premium.
Grayscale Investments also offers Bitcoin (BTC) trust stocks. This fund aggressively buys Bitcoins (BTC). It is Grayscale who has bought 50% more Bitcoin (BTC) than every Bitcoin (BTC) miner managed to obtain as a miner's reward last week.
Seasoned analyst Preston Pysh is impressed by this aggression and is guessing why Grayscale is the only investment vehicle to benefit from this overhyped demand.
Euphoria with no reason
Top-level advisor and blockchain analyst Qiao Wang, the co-founder of the Messari analytical team, believes that no reasonable catalyst can be found behind this rally of Grayscale Ethereum Trust Stocks (ETHE).
He emphasizes that gaining exposure to the price movement of Ethereum (ETH) through such an exotic vehicle has no benefits in terms of liquidity influx or taxation regime.
As reported yesterday by U.Today Crypto News, investment legend Dan Tapiero predicted the 'explosive upmove' of the Ethereum (ETH) price. He asked the crypto community about the potential mid-term catalysts.
Experts answered that it might be due to newbies arriving, crucial technological milestone achievements from Ethereum-based products or the lucrative prospectives of the Ethereum (ETH) 2.0 staking roll-out.
