{"id":534812,"date":"2023-01-04T08:00:15","date_gmt":"2023-01-04T05:00:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/grayscale-eth-trust-nears-record-60-discount-as-nerves-continue-over-dcg\/"},"modified":"2023-01-04T08:00:15","modified_gmt":"2023-01-04T05:00:15","slug":"grayscale-eth-trust-nears-record-60-discount-as-nerves-continue-over-dcg","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/grayscale-eth-trust-nears-record-60-discount-as-nerves-continue-over-dcg\/","title":{"rendered":"# Grayscale ETH trust nears record 60% discount as nerves continue over DCG"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2a286d13a41\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2a286d13a41\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/grayscale-eth-trust-nears-record-60-discount-as-nerves-continue-over-dcg\/#%E2%80%9D_Grayscale_ETH_trust_nears_record_60_discount_as_nerves_continue_over_DCG_%E2%80%9C\" >&#8221; Grayscale ETH trust nears record 60% discount as nerves continue over DCG &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Grayscale_ETH_trust_nears_record_60_discount_as_nerves_continue_over_DCG_%E2%80%9C\"><\/span>&#8221; Grayscale ETH trust nears record 60% discount as nerves continue over DCG &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ed77c39>The Grayscale Ethereum Trust (ETHE) is trading at nearly a 60% discount to the underlying value of its assets, with shares falling 93% from its Jun. 2019 all-time high (ATH).<\/p>\n<p>There are many reasons behind the ongoing decline, but in recent weeks fears have grown that fallout from parent company Digital Currency Group\u2019s debt of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $1.675 billion to troubled crypto lender Genesis could impact Grayscale assets. <\/p>\n<p>YCharts data shows a 59.39% discount at the time of writing, a level the trust has traded at since at least Dec. 28.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/bffc832c-6617-483a-b3e2-d44ce71bdca6.png\"><figcaption style=\"text-align: center;\"><em>A one-year chart for the Grayscale Ethereum Trust\u2019s discount. Image: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ycharts.com\/companies\/ETHE\/discount_or_premium_to_nav\">YCharts<\/a><\/em><\/figcaption><\/figure>\n<p>Crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> influencer \u201cdb\u201d tweeted an image on Jan. 4 depicting the entire collection of Grayscale crypto-based trusts with statistics showing their respective premium.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Every Grayscale trust and their respective premium % <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/TYQf5FmeXt\">pic.twitter.com\/TYQf5FmeXt<\/a><\/p>\n<p>\u2014 db (@tier10k) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tier10k\/status\/1610273482016694272?ref_src=twsrc%5Etfw\">January 3, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>It showed most of Grayscale\u2019s trust funds are trading at a discount with Ethereum Classic Trust hit hardest, currently trading at a 77% discount, followed by Litecoin trust at 65% and Bitcoin Cash Trust 57%.<\/p>\n<p>The Grayscale Bitcoin Trust (GBTC) is trading at a 45% discount.<\/p>\n<p>Just two Grayscale Trusts are currently trading at a premium, the Filecoin Trust at 108% and the Chainlink Trust at 24%.<\/p>\n<p>According to Grayscale\u2019s official<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/grayscale.com\/products\/grayscale-ethereum-trust\/\"> website<\/a> there are currently $3.7 billion worth of assets under the Grayscale Ethereum Trust (ETHE) pool collected from 31 million shares.<\/p>\n<p>The Ether (ETH) per share is around 0.0097 ETH, which is worth $11.77 USD, and the market price per share is $4.77 USD.<\/p>\n<p>Grayscale\u2019s parent company, DCG, came under fire again this week when Cameron Winklevoss, the co-founder of cryptocurrency exchange Gemini called out DCG CEO Barry Silbert in an open letter on Twitter.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Will Grayscale be the next FTX?<\/em><\/strong><\/p>\n<p>Winkelvoss claimed DCG\u2019s company Genesis owes Gemini $900 million in funds lent to it as part of Gemini\u2019s Earn product that the two companies ran in partnership.<\/p>\n<p>Digital assets research and analysis company Arcane Research suggested in a<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/theweeklyupdate.substack.com\/p\/ahead-of-the-curve-january-3?utm_source=profile&amp;utm_medium=reader2\"> <\/a>Jan. 3 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/theweeklyupdate.substack.com\/p\/ahead-of-the-curve-january-3?utm_source=profile&amp;utm_medium=reader2\">report<\/a> that the significant debt DCG and Genesis purportedly owe to Gemini could see DCG to initiate a Reg M distribution. <\/p>\n<p>This would be bad for crypto markets but good for ETHE shares. According to Arcane: &#8220;A Reg M would cause a massive arbitrage strategy of selling crypto spot versus buying GrayscaleTrust shares. If this scenario plays out, crypto markets could face further downside.&#8221;<\/p>\n<p>Winklevoss has been vocal on the alleged DCG liquidity issues previously <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cameron\/status\/1605351784557461506?ref_src=twsrc%5Etfw\">tweeting<\/a> an update in Dec. 2022 stating global investment bank Houlihan Lokey had presented a plan on behalf of the Creditor Committee to provide a pathway for the recovery of assets.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/grayscale-eth-trust-nears-record-60-discount-as-nerves-continue-over-dcg\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Grayscale ETH trust nears record 60% discount as nerves continue over DCG &#8220; The Grayscale Ethereum Trust (ETHE) is trading at nearly a 60% discount to the underlying value of its assets, with shares falling 93% from its Jun. 2019 all-time high (ATH). There are many reasons behind the ongoing decline, but in recent&#8230;<\/p>\n","protected":false},"author":1,"featured_media":534813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/55e9085c-9be2-4f80-9445-0a6efa186471.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,76971,90192,82402,74891,75499,74864,76550,110604,107545,74866,117,78884],"class_list":["post-534812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cameron-winklevoss","tag-digital-currency-group","tag-ether-price","tag-ethereum","tag-ethereum-classic","tag-gemini","tag-grayscale","tag-investment-trusts","tag-liquidity","tag-winklevoss-twins","tag-business","tag-nav"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/534812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=534812"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/534812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/534813"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=534812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=534812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=534812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}