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Grayscale Ethereum Trust $ETHE Fully Explained!The fund offers a simple way for investors to gain exposure to this popular cryptocurrency, which happens to be flirting with all-time highs. Why Grayscale. The Grayscale Ethereum Trust (ETHE %) is a managed fund that makes it easy to add Ethereum to your brokerage account. Each share is backed by a fixed amount. Nov 9 (Reuters) - Asset management giant BlackRock registered to create an ethereum trust, a potential first step toward asking regulators.