Grayscale Ethereum Trust Discount Narrows to 6.66%, Lowest Since 2021
CryptoNewsTerminal Staff22 May, 2024
Grayscale Ethereum Trust Discount Narrows to 6.66%, Lowest Since 2021
The Grayscale Ethereum Trust (ETHE) has hit a discount of 6.66%, its lowest level since 2021, according to CryptoSlate. ETHE has been trading at a discount since early 2021 when Grayscale halted redemptions, with the discount at one point in late 2022 reaching 60%. “The narrowing discount on ETHE is likely a function of traders looking to capture the carry trade, as well as potential demand for the underlying spot ETH if there is an eventual conversion of ETHE to an ETF,” the analysts said. They added that "looking at GBTC, we saw a substantial outflow following the approval of the ETH spot ETF, so something similar could be in store if and when an ETH spot ETF is approved."
