The litany of applications for a spot Ethereum exchange-traded fund (ETF) has positively impacted Grayscale’s Ethereum Trust (ETHE).

The rising interest has significantly increased trading volume across various crypto exchanges, narrowing ETHE discount to under 15%, its lowest level this year.

Grayscale’s Ethereum Trust Discount Falls

The discount on Grayscale’s Ethereum Trust has narrowed to 13.94% as of November 10, according to data from Coinglass. This represents a massive turnaround for an asset whose discount was as much as 60% earlier this year.

ETFStore president Nate Geraci posits that this contraction in the discount signals the market’s anticipation of a spot Ethereum ETF. He believes the narrowing discount is a real-time indicator akin to a “live betting line.” Therefore, forecasting the possibility of approval of an ETF.

In recent months, the US Securities and Exchange Commission (SEC) has been reviewing applications for spot ETFs covering major cryptocurrencies, including Bitcoin and Ethereum. The regulator received several applications from leading traditional f

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Author: Oluwapelumi Adejumo

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