• The price of Grayscale Ethereum Trust (ETHE) saw an uptick following recent ETF filings made by Ark Invest and 21Shares.
• This has been driven by the hopes of a potential conversion of the ETHE into an ETF.

The value of Grayscale Ethereum Trust (ETHE) has approached its year-to-date high of $12.06 following the recent ETF filings made by Ark Invest and 21Shares, data from IntoTheBlock showed.

Read Ethereum’s [ETH] Price Prediction 2023-24

Grayscale’s ETHE product is a trust that holds the leading altcoin Ethereum [ETH]. Investors can buy shares of ETHE, gaining exposure to the coin’s price movements without necessarily holding the asset.

However, ETHE is not an ETF because it is not traded on an exchange, making it a closed-end fund.

The recent ETF filings have sparked renewed interest in ETHE, as investors see them as a potential way to gain exposure to Ethereum without buying and storing the underlying cryptocurrency.

Since Ark Invest and 21Shares submitted their applications, the price per Grayscale ETHE has climbed by 8%. According to data from IntoTheBlock, at press time, this exchanged hands for $11.85.

Why the rally?

While ETH’s price trended downward, IntoTheBlock noted in a tweet on X (formerly

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Author: Abiodun Oladokun

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