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Grayscale Ethereum Trust discount falls to low levels

On May 21, 2024, Grayscale Ethereum Trust's (ETHE) discount to net asset value (NAV) decreased to 6.66%, according to YCharts. The last time such an indicator was recorded was in December 2021.

ETHE trust discount/premium zone. Source: YCharts.

IN The Block stated that the discount to NAV shows how much lower the market price of each share is compared to the value of Ethereum.

In addition, the report said that such an indicator can be considered as an indicator of the likelihood of approval of spot Ethereum-ETFs.

“Investors appear to be buying shares at a discount ahead of a potential product conversion to an ETF, as was the case with the Grayscale Bitcoin Trust (GBTC) before its conversion to an ETF in January,” the report said.

Note that the Grayscale Bitcoin Trust (GBTC) discount has decreased to 0.03%:

GBTC trust discount/premium zone. Source: YCharts.

Source: Cryptocurrency

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