Grayscale’s purchase of more ETH comes after reopening the Ethereum Trust to investors. CME Ethereum futures contracts are set to launch on Monday, February 8. Ethereum whales are on a buying spree as they capitalize on the bull run. Grayscale Investments, the world’s leading digital fund manager, has bought more Ethereum. The firm’s uptake of Bitcoin from late last years was connected to the bull run the pioneer cryptocurrency experienced in December and January. There seems to be a consistent shift to Ethereum as the asset rallies to a new high after a new high. Are investors shifting the focus to Ethereum? Ethereum Trust (OTCQX: ETHE) is the vehicle investors use to get into the cryptocurrency market with Grayscale. The company reopened the trust on Monday, allowing new investors to come while others increase their shareholding. According to the investment firm, Ethereum Trust had over $4 billion in assets by January 29. This week’s $76 million purchase came before the reopening of the trust, implying that investor interest in Ethereum was growing at an exceptional rate. Ethereum goes ballistic ahead of CME Ether futures Ethereum extended the bullish leg to a new all-time high at $1,700 this week. The majestic move was anticipated by many in the market who still believe that Ethereum is nowhere near the top. A retreat came into the picture forcing ETH to revisit levels under $1,600. However, a recovery soon came into the picture, placing Ether back on the upward trajectory. ETH/USD 4-hour chart Investor sentiment is extremely positive for Ethereum and could rise higher ahead of the Chicago Mercantile Exchange (CME) Ethereum futures launch scheduled for Monday, February 8. Futures contracts allow investors to participate in buying and selling cryptocurrencies without owning the underlying digital asset. It also means that trading takes place on a regulated platform. Ethereum whales on a buying spree A significant drop in the number of large volume holders of Ethereum was evident toward the end of January. However, Santiment’s holder distribution shows that whales started streaming in from the beginning of February, explaining the rally to new all-time highs. The number of addresses holding between 100,000 and 10 million ETH shot up from 154 on February 3 to 158 on February 5. This increase may seem minor at first, but the ETH volume is massive enough to add to the buying pressure significantly. Ethereum holder distribution Peter Brandt, a prominent trader and investor, recently said he was willing to convert half of his Bitcoin holdings to Ethereum. He believes that Ethereum has a long way to go. Experts predict that Ethereum may hit $2,000 before the launch of CME Ether futures. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD: Break below 1.1945/14 to expose 1.1800/1.1700 – Credit Suisse FX Street 2 years Grayscale's purchase of more ETH comes after reopening the Ethereum Trust to investors. CME Ethereum futures contracts are set to launch on Monday, February 8. Ethereum whales are on a buying spree as they capitalize on the bull run. Grayscale Investments, the world's leading digital fund manager, has bought more Ethereum. The firm's uptake of Bitcoin from late last years was connected to the bull run the pioneer cryptocurrency experienced in December and January. There seems to be a consistent shift to Ethereum as the asset rallies to a new high after a new high. Are investors shifting the focus to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.