Ethereum ETFs Closer to Reality? SEC Signals, Market Surges
- SEC hints at possible Ethereum ETF approval.
- Grayscale discount may predict regulatory outcome.
- Crypto market reacts amid evolving landscape.
The U.S. Securities and Exchange Commission (SEC) has signaled potential shifts in its stance on Ethereum-based exchange-traded funds (ETFs). Nic, a prominent crypto analyst, recently drew attention to the Grayscale Ethereum Trust (ETHE) discount, suggesting it might offer insights into investor sentiment regarding the likelihood of Ethereum ETF approval.
The Grayscale ETHE discount is now at 7.2%. If this further tightens today then it could be further proof of people buying ETHE to arb the discount on approval.
— Nic (@nicrypto) May 23, 2024
i.e., it's a really good proxy for approval odds.
Keep an eye on itpic.twitter.com/v4qm2MfBoP
The Grayscale ETHE discount, which currently stands at 7.2%, could potentially serve as a gauge for approval odds. A narrowing discount may indicate investors are utilizing ETHE to capitalize on the discount upon approval, suggesting growing confidence in the ETF’s prospects. Carter advises close observation of this metric, emphasizing its potential value as a proxy for approval pro…
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