According to data from YCharts, as of the close of trading yesterday, the discount rate of Grayscale Ethereum Trust (ETHE) to its net asset value has fallen to -6.7%, the lowest since December 2021. This is due to people's optimistic attitude towards the prospect of the US SEC approving a spot Ethereum ETF. The narrowing discount may be seen as an indicator of the possibility of approval of a spot Ethereum ETF, and investors seem to be buying discounted stocks before a potential ETF conversion, just as was the case with Grayscale Bitcoin Trust (GBTC) before its conversion to an ETF in January.