Grayscale Ethereum Trust (ETHE) shares have dropped 93% from their all-time high in June 2019 while trading at close to a 60% discount to the value of its assets (ATH).
The continued downtrend has a number of causes, but in recent weeks there has been an increase in concerns that Grayscale assets may be impacted by the parent business Digital Currency Group's debt of over $1.675 billion to the failing cryptocurrency lender Genesis.
The trust has traded at this level since at least December 28 according to YCharts data, which at the time of writing indicates a 59.39% discount.
Grayscale's trust funds are presently trading at a discount, with Ethereum Classic Trust suffering the most, down 77% as of writing. Litecoin Trust is next, down 65%, while Bitcoin Cash Trust is down 57%.
Trades for the Grayscale Bitcoin Trust (GBTC) are discounted by 45%.
Just two Grayscale Trusts—the Chainlink Trust at 24% and the Filecoin Trust at 108%—are now selling at a premium.
The Grayscale Ethereum Trust (ETHE) pool presently has assets of $3.7 billion, which were gathered from 31 million shares, according to the company's official website.