After the U.S. SEC announced that it was asking Ethereum spot ETF issuers to submit 19b-4 documents as soon as possible, foreign media reported that SEC officials had asked Nasdaq, the Chicago Board Options Exchange and the New York Stock Exchange to modify their application documents, indicating that the SEC is currently willing to approve the Ethereum spot ETF.
Grayscale Ethereum Trust’s negative premium drops to 11.83%
It is also worth noting that as the market’s expectations for the Ethereum spot ETF to pass this week have rekindled, the negative premium of Grayscale Ethereum Trust ETHE has risen from – 26.08% at the beginning of this month to – 11.83%.
Is now a good time to buy ETHE?
We know that before the Bitcoin spot ETF was approved, the negative premium of Grayscale GBTC also showed a trend of gradually shrinking, and finally returned to almost zero after it was approved. (Investors who bought when the negative premium was large made a lot of profit after GBTC was converted to a spot Bitcoin ETF) Therefore, now may be the last opportunity to buy ETHE at a discount.
However, it remains to be seen whether ETHE will replicate the situation of GBTC, and even if the ETF passes, it is still necessary to consider whether the price of Ethereum can continue to rise?
How to buy ETHE?
ETHE was established on December 13, 2017 and listed in July 2019. It is regulated by the U.S. SEC and is a listed trust fund that can be traded through a general U.S. securities account.
However, for Taiwanese people, they need to go through overseas brokerages and make international remittances, and they need to pay attention to bank wire fees. In addition, ETHE also needs to pay a handling fee to Grayscale, which is also a cost consideration that needs to be included.
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