- Ethereum, the second largest cryptocurrency by market cap, is the world's first widely used blockchain. If it reaches its potential, it will represent a paradigm shift for commerce.
- NFTs are an inflection point for Ethereum as more people use the blockchain to transact and creators earn in ETH. Once DeFi products are layered on, adoption should skyrocket.
- ETHE currently trades at an ~8% discount to NAV, including the 2.5% management fees. ETHE should trade at a premium to NAV given qualitative considerations, such as cybersecurity concerns.
- We are bullish on Ethereum and believe ETHE provides an interesting way to hold the asset for investors with a long-term horizon.
For further details see:
Grayscale Ethereum Trust: Invest In Ethereum At A Discount