According to Coinglass data , as of November 10th, the discount rate of Grayscale's Ethereum Trust Fund has narrowed to 13.94%. This is a huge change compared to the asset's discount rate of up to 60% earlier this year. ETFStore President Nate Geraci believes that the shrinking discount rate indicates the market's expectation for a spot Ethereum ETF. The narrowing discount rate is a real-time indicator similar to a "real-time betting line". Therefore, it predicts the possibility of ETF approval.

Bloomberg analyst James Seyffart stated on X platform that BlackRock's Ethereum ETF application has been confirmed, and the company has just submitted the 19b-4 document to Nasdaq.