Because the BTC ETF narrative gripped the market final yr, merchants have been ether as the following seemingly candidate to get a spot ETF approval within the U.S. Reflecting this sentiment is the low cost to internet asset worth (NAV) for the Grayscale Ethereum Belief (ETHE), which has been contracting for the reason that summer time, and has lingered round 12% during the last two months, in keeping with JPMorgan.