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Grayscale Ethereum Trust trades at record 59% discount
- Zeynep Geylan
- 2023-01-04
- 3299
- ETH
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Summary:Nearly all Grayscale funds have been trading at high discount rates.
According to the data information communicated by DB, the data encryption influencer, Grayscale Ethereum Private Equity (ETHE) traded at a record low discount rate of 59%.
Grayscale Trust collects assets from cryptocurrency institutions that expect the project to invest in various cryptocurrencies, but I hope to prevent them from purchasing, storing or keeping their cryptocurrency institutions. The assets collected under ETH are used to pay for ETH, making investors passively touch ETH.
At this stage, there is a significant property of 3.6 billion dollars in the ETHE pool, which comes from 310 billion Hong Kong dollars of individual shares. Each share of ETH is about 0.0097 ETH, and the price of each share is 4.77 dollars.
Concern of the community about the grayscale
Data shows that ETHE is not the only gray stock fund that has fallen into a desperate situation. On December 8, Grayscale BTC Trust (GBTC) achieved a record 49,20% discount. Since then, GBTC has only slightly improved, with a discount rate of 45.
Recently, Grayscale has been encountering speculation about its accounting reliability. On November 16, Genesis, a sister enterprise of Grayscale, suspended cash withdrawal, causing related bankruptcy problems. Before long, the results showed that the head office of the two enterprises owed approximately $2 billion to Genesis.
Although Coinbase, the partner of Grayscale, assured the community that Grayscale had sufficient BTC (BTC) to maintain its circulation, Grayscale refused to provide evidence for its BTC reserve, which did not help alleviate the street's concerns.
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