Grayscale ETHE Premium Shows Signs of Recovery, Now Stands at -1.44%
CryptoNewsTerminal Staff08 Jun, 2024
Grayscale ETHE Premium Shows Signs of Recovery, Now Stands at -1.44%
The Grayscale Ethereum Trust (ETHE) has witnessed a notable surge in its premium, rising to -1.44% from a previous low of -11.82% on May 22. This represents an impressive 10.4% increase. However, it's worth noting that other Grayscale trusts, GBTC and ETCG, continue to trade at negative premiums. The Bitcoin Trust (GBTC) premium currently stands at -0.19%, while the Ethereum Classic Trust (ETCG) has a significant -41.72% premium. ETHE's premium recovery is attributed to various factors, including the recent rise in Ethereum's price and the potential impact of the upcoming Shanghai hard fork. The hard fork, anticipated in March 2023, is expected to introduce staking withdrawals, which could potentially increase demand for ETHE. The negative premiums in GBTC and ETCG may be influenced by the ongoing market uncertainty and lingering concerns over the regulatory landscape surrounding digital assets. Overall, the Grayscale Ethereum Trust's premium recovery indicates growing investor confidence in Ethereum's long-term prospects. However, it's important to note that the premium remains below its historical average, suggesting the market is still cautious.
