Beginning August 16, the company will trade on the New York Stock Exchange under the symbol “ETD” and will no longer use “ETH.”
Ethan Allen said using the letter “D” stands for design, which better reflects the company’s focus. It also noted some traders were getting confused with the cryptocurrency.
Ethereum, or ether for short, is the world’s second-most valuable cryptocurrency after bitcoin. Ether’s value has soared some 275% so far this year — even more than bitcoin — thanks to growing interest in non-fungible tokens and increased adoption of cryptos generally.
Meanwhile, Ethan Allen’s shares have jumped 20% this year because of strong sales.