Coin Edition -
- 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. i.e., it's a really good proxy for approval odds. Keep an eye on it