Cryptocurrency

Grayscale Ethereum Trust trades at record 59% discount

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of Grayscale Ethereum Trust According to data shared by Crypto Influencer DB, (ETHE) is trading at a record low discount rate of 59%.

Source: @tier10k
sauce: @tier10k

Grayscale Trust raises funds from institutions that want to invest in a variety of cryptocurrencies but want to avoid the challenges of buying, custody or custody of cryptocurrencies. Funds raised on ETHE will be used to buy Ethereum (ETH), passively exposing institutional investors to her ETH.

Currently, the ETHE pool is worth $3.6 billion in assets gathered from 31 million shares. The ETH per share is approximately 0.0097 ETH and the market price per share is $4.77.

Community concerns about grayscale

ETHE isn’t the only one struggling, according to the data. On Dec. 8, Grayscale Bitcoin Trust (GBTC) hit its lowest ever discount of 49.20%. Since then, GBTC has recovered slightly, with a discount rate of 45.

Grayscale has recently faced speculation about its financial stability. On November 16th, Grayscale’s sister company, Genesis, suspended withdrawals, raising questions about bankruptcy. Soon after, reports revealed that both companies’ parent companies owed Genesis about $2 billion.

Grayscale’s partner, Coinbase, has assured the community that Grayscale has enough Bitcoin (BTC) to maintain liquidity, but Grayscale has allayed the community’s concerns. refused to provide proof of its BTC reserves, which did not help.

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