The Grayscale Ethereum Trust (ETHE) has fallen to a record discount of -60% as fears over liquidations mount.
The discount to net asset value (NAV) had been between -25% and -35% up until early November when FTX collapsed. It has since plummeted to its lowest-ever level this week.
The asset manager’s flagship Bitcoin Trust (GBTC), is also in a world of pain. Its discount to NAV is currently -45%, also an all-time low according to Ycharts.
(By Martin Young)