> For the complete documentation index, see [llms.txt](https://userguide.cryptoquant.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://userguide.cryptoquant.com/ja/grayscale-ethereum-trust-ethe/ethe-premium-or-discount.md).

# ETHE Digital Asset Holdings

## 定義

$$
資産保有 = 発行済株式数 × 1株当たりの資産額
$$

## 解釈

Grayscale ETH Holdingsは、Grayscaleが投資のために保有しているETHの量を表しています。この指標は株式市場のセンチメントを示すもので、値が大きいほど株式市場における投資家の強気のセンチメントを意味します。

## データへのリンク

* [CryptoQuantのライブチャートでグレースケールのEthereum Trust (ETHE)](https://cryptoquant.com/overview?search=ETHE)
* [CryptoQuant データAPIドキュメントにおけるグレースケールEthereum Trust (ETHE)](https://cryptoquant.com/docs#tag/ETH-Fund-Data)

## データへのリンク

* [CryptoQuantライブチャートのグレースケール・ビットコイン・トラスト(GBTC)](https://cryptoquant.com/overview?search=GBTC)
* [CryptoQuant Data APIドキュメントのグレースケール・ビットコイン・トラスト（GBTC）](https://cryptoquant.com/docs#tag/BTC-Fund-Data)

##

## Definition

The percent difference between the market price(ETHE) and native asset value(ETH).

$$
\text{Premium} = \frac{\text{ETHE price} - \text{Ethereum per share \* Ethereum price}}{\text{Ethereum per share \* Ethereum price}}
$$

## Interpretation

Higher the premium indicates the U.S. bullish market, which also indicates downside risk. On the other hand, the lower premium indicates market bearish, which also indicates the upside risk.

## Link to Our Data

* [Grayscale Ethereum Trust (ETHE) in CryptoQuant Live Chart](https://cryptoquant.com/overview?search=ETHE)
* [Grayscale Ethereum Trust (ETHE) in CryptoQuant Data API docs](https://cryptoquant.com/docs#tag/ETH-Fund-Data)


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