Grayscale’s Ethereum Fund is close to its yearly high, trading at a discount of 26.64%, at the time of writing. The discount has narrowed nearly 55% s
Grayscale Ethereum Trust discount narrowed from 59.34% in January 2023 to 26.64%, early on Saturday.
Ark’s spot Ethereum ETF filing is likely a catalyst behind the shrinking discount and traders are weighing higher odds of the product’s approval. Grayscale’s plan is to convert its ETH fund ETHE into an ETF, as traditional finance giants push for an approval of a spot ETH ETF filing.Fund is close to its yearly high, trading at a discount of 26.64%, at the time of writing. The discount has narrowed nearly 55% since the beginning of 2023. The crypto asset manager’s plan is to convert the ETH fund to its spot Ethereum ETF product, and market participants believe the odds are likely stacked in favor of the firm.
ETF product and the odds are relatively higher than the beginning of 2023. In the beginning of January, Grayscale ETHE discount was 59.34%. The discount narrowed to 26.64%, as of September 9.Trust has $4.9 billion in assets under management and it enables investors to benefit from exposure to ETH as a security, without the challenges of storing and safekeeping the asset.
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