Grayscale Ethereum Trust’s (ETHE) discount to net asset value (NAV) fell to its lowest since December 2021. The discount fell to -6.7% yesterday due to bullish sentiment ahead of the SEC's potential approval of an Ethereum spot Exchange-Traded Fund (ETF). The discount represents how much the market price per share is undervalued compared to the value of the Ethereum it represents. The narrowing discount of ETHE, which currently has $10.9 billion in assets under management, is considered an indicator of the likelihood of Ethereum ETF spot approval. (Block)

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