The Grayscale Ethereum Trust (ETHE), founded by Grayscale, an affiliate of the Digital Currency Group, has dropped to an all-time low.
Institutional investors directly instead of buying ether (ETH) they can opt for the Grayscale Ethereum Trust, which is managed similarly to a traditional investment vehicle.
However, the value of the shares in this fund compared to the net asset value of the fund, since the end of 2020 is showing a decline. This decrease is especially evident in the last year. to accelerate in the last quarter started.
ETHE shares are now compared to net asset value about 60% off sees value. This represents a historic low for the Grayscale Ethereum Trust.
According to industry experts, this decline in ETHE can be explained by several different reasons. Among these reasons to the spot ether market exchange-traded funds (ETFs) to invest, at least in the near future are unlikely to be approved, and the general expectations for the cryptocurrency market are negative.
Aside from the Ethereum Trust, the Grayscale Bitcoin Trust isn’t doing very well either. The discount rate in this trust is in December 2022. was up to 50%. If this rate is today at 45% level.
Digital Currency Group, to which Grayscale is affiliated, came to the fore this week when the CEO of the company, Barry Silbert, had a quarrel with Gemini founder Cameron Winklevoss.