Grayscale Ethereum Trust discount hits lowest level since November 2023
The Grayscale Ethereum Trust discount has fallen to its lowest level since November 2023. Meanwhile, experts are growing more skeptical that a spot Ethereum ETF will be approved in May. If the spot Ethereum ETF is approved, Grayscale’s trust will convert to an Ethereum ETF. This would allow holders to redeem underlying Ethereum and effectively eliminate the discount. However, the decline in discounts suggests that traders do not expect approval and therefore will not switch anytime soon.
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