According to BlockBeats, on July 5, data from YCharts revealed that the premium of Ethereum Trust (ETHE) over its net asset value reached 0.31% on July 3. This development comes as the market anticipates the launch of a spot Ethereum ETF in the United States, and it is expected that ETHE will no longer trade at a negative premium prior to this event.
Since the bottom of the cryptocurrency bear market in December 2022, ETHE has been trading at a negative premium. However, following the launch of a Bitcoin ETF in January, predictions surrounding the approval of a spot Ethereum ETF by the US Securities and Exchange Commission (SEC) have been on the rise. Consequently, the negative premium of ETHE has been steadily narrowing until it turned into a positive premium this month. It is reported that Grayscale ETHE currently manages assets worth $9.5 billion.