The discount rate of Grayscale Ethereum Trust to net asset value has fallen to its lowest level since December 2021

2024-05-23 07:32:43

Collection

ChainCatcher news, due to the optimistic outlook of the U.S. Securities and Exchange Commission on the approval prospects for spot Ethereum exchange-traded funds, the net asset value (NAV) discount rate of the Ethereum Trust (ETHE) has fallen to its lowest level in over two years.

The NAV discount indicates how much lower the market price of each share is compared to the value of the Ethereum it represents. According to YCharts data, as of yesterday's close, the discount rate has dropped to -6.7%, the lowest since December 2021.

The narrowing discount may be seen as an indicator of the likelihood of approval for a spot Ethereum ETF, as investors seem to be buying discounted shares ahead of a potential ETF conversion, similar to the situation with the Grayscale Bitcoin Trust (GBTC) before its conversion to an ETF in January. ETHE currently manages $10.9 billion in assets.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.