Grayscale Temporarily Closes Ethereum Trust, Premiums Fall to Years-Long Lows

Digital asset manager Grayscale Investments has temporarily closed its Ethereum Trust, according to a notice on its website. All of Grayscale’s funds periodically and temporarily close for administrative purposes but these closures don’t affect trading in the OTC markets. The Ethereum […]

article-image

Via Coindesk

share

Digital asset manager Grayscale Investments has temporarily closed its Ethereum Trust, according to a notice on its website.

All of Grayscale’s funds periodically and temporarily close for administrative purposes but these closures don’t affect trading in the OTC markets. The Ethereum Trust (ETHE) is the only one of its funds closed today, a spokeswoman for Grayscale confirmed.

The Ethereum Trust has been trading at lower than normal premiums for weeks. On Monday, the premium relative to the net asset value (NAV) fell to 2.4 percent. The price of ether hit an all-time high of $1,476 Monday morning and ETHE shares rose to $16.22.

YCHARTS

Last week’s premium to NAV for the Grayscale Bitcoin Trust also fell to significant lows, dropping to 2.7 percent compared to 40 percent a month prior.

The ETHE premium to NAV as of Wednesday afternoon was up to about 12.5 percent, suggesting the initial hype had worn off. The premium has averaged about 694 percent over the past five years. Throughout January it’s been hovering in the low double digits, dipping to 5.1 percent on Jan. 21 before falling further on Monday. 

The Grayscale Ethereum Trust is designed for accredited investors seeking exposure to ether, the native token of the Ethereum blockchain and the second-largest crypto asset by market cap, through a traditional investment vehicle without the challenges of buying and securely storing it themselves.

The price of ether is $1,314 as of Thursday morning. ETHE shares fell to $13.39 Wednesday but rallied to $15.00 in after-hours trading.

Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

Top Committee Democrat Sen. Elizabeth Warren in her opening statement accused Atkins of “helping billionaire CEOs like Sam Bankman-Fried”

article-image

Introducing garbled circuits for enhanced privacy and regulatory compliance

article-image

Ross Ulbricht was a freedom maximalist building freedom tech, powered by Bitcoin

article-image

Solana validators can reap benefits including payments, votes and community clout

article-image

Sponsored

WalletConnect is cementing itself as the essential connectivity layer, ensuring wallets remain the entry point for billions of users

article-image

According to a legal filing, Galaxy Digital helped boost the price of LUNA while quietly selling its tokens