Why Grayscale Ethereum Trust Is Soaring Today
Shares of Grayscale Ethereum Trust (OTC: ETHE) were soaring on Tuesday. As of noon EST, the stock was up 22%. This is likely related to the movement the funds' underlying asset: Ether. Ether is the token native to the Ethereum blockchain, and it's been going up rapidly over the last few days. In fact, today Ether tokens surpassed the price of $1,400 per token -- a level not seen since 2018.
Ether tokens reached all-time highs of $1,448.18 back in January 2018, according to CoinDesk. Ether's 24-hour high (remember, unlike stocks, cryptocurrencies trade hands everyday around the clock) is $1,439.33 -- less than 1% away from blasting to new all-time highs.
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Source Fool.com
