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Since the BTC ETF narrative gripped the market last year, traders have been looking at ether as the next likely candidate to get a spot ETF approval in the U.S. Reflecting this sentiment is the discount to net asset value (NAV) for the Grayscale Ethereum Trust (ETHE), which has been contracting since the summer, and has lingered around 12% over the last two months, according to JPMorgan.
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