Grayscale Ethereum Trust (ETHE)’s discount relative to net asset value (NAV) has fallen to its lowest level since December 2021. The discount fell to -6.7% yesterday as optimism grew that the SEC could approve a spot Ethereum exchange-traded fund (ETF). The discount represents the degree to which the market price per share is undervalued relative to the value of the Ethereum it represents. The narrowing of the ETHE discount is seen as a measure of the likelihood of approval of a spot Ethereum ETF, which currently manages $10.9 billion in assets. (TheBlock)