With speculations soaring about a potential conversion of Grayscale's Ethereum Trust to an ETF, the value of ETHE has seen an uptick in the past few days.
. Investors can buy shares of ETHE, gaining exposure to the coin’s price movements without necessarily holding the asset.The recent ETF filings have sparked renewed interest in ETHE, as investors see them as a potential way to gain exposure to Ethereum without buying and storing the underlying cryptocurrency.
Since Ark Invest and 21Shares submitted their applications, the price per Grayscale ETHE has climbed by 8%. According to data from“Grayscale will be able to convert its ETHE product into an ETF following the push from traditional finance giants into the space.” According to the on-chain data provider, the possibility of this happening remains high due to ETHE’s optimal performance since Ark Invest and 21Shares made their ETF filings.“Following Ark’s spot Ether ETF filing this week, the gap has narrowed to -26%, its lowest discount since October 2022 per Ycharts.”over the Securities and Exchange Commission [SEC] might be another incentive to do this.
Lying below their respective center lines, ETH’s Relative Strength Index and Money Flow Index were 38.15 and 49.21 at the time of writing.
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