Breaking: Grayscale Ethereum Trust is now SEC-regulated company

Grayscale Ethereum Trust is now an SEC-regulated company.
ETH/USD develops a strong recovery attempt.

The shares of the Trust are registered under Section 12(g) of the Securities Exchange Act of 1934. It invests solely in ETH, while the shares of the Trust allow investors to gain exposure to the second-largest digital asset.

The shares of the Trust are registered under Section 12(g) of the Securities Exchange Act of 1934. It invests solely in ETH, while the shares of the Trust allow investors to gain exposure to the second-largest digital asset.

Additionally, accredited investors who own or purchase shares from the Trust's private placement now have an earlier liquidity opportunity, as the statutory holding period of shares purchased through the private placement will be reduced from 12 months to 6 months, provided the other requirements under Rule 144 of the Securities Act of 1933, as amended (the "Securities Act"), have been satisfied.

ETH/USD: The technical picture

While the community got excited with the news, ETH/USD attempts to recover from the intraday lows. The price rebounded from $370.4 to trade at $380 by ty the time of writing, mostly unchanged since the start of the day.

ETH/USD 4-hour chart

The price is breaking the local resistance is created by $376. This barrier has been limiting ETH's upside momentum since the weekend. Once it is out of the way, the upside is likely to gain traction with the next focus on a strong psychological barrier of $400.

On the downside, the local support is created by $362. A sustainable move below this area will negate the immediate bullish scenario and bring $350 in focus.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram