Grayscale ETHE's discount to net asset value fell to -6.7%, the lowest since December 2021

According to data from YCharts, as of the close of trading yesterday, the discount rate of Grayscale Ethereum Trust (ETHE) to its net asset value has fallen to -6.7%, the lowest since December 2021. This is due to people's optimistic attitude towards the prospect of the US SEC approving a spot Ethereum ETF. The narrowing discount may be seen as an indicator of the possibility of approval of a spot Ethereum ETF, and investors seem to be buying discounted stocks before a potential ETF conversion, just as was the case with Grayscale Bitcoin Trust (GBTC) before its conversion to an ETF in January.