The Ethereum spot ETF approval in the U.S. could happen as early as May 23, which should cause the immediate closing of the discount of for Grayscale’s trust (ETHE). This is what happened with the GBTC discount did.
We’re roughly 100 days away from the first approval deadline (May 23), and the ETHE discount is 12.5%. This is very similar to where GBTC’s discount was trading 100 days before the approval (Oct 2), before it quickly converged to zero.
Ilan Solot
@isolot
Senior Global Markets Strategist - Macro & Digital Assets at Marex Solutions Personal views only here.