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Definition

The percent difference between the market price(ETHE) and native asset value(ETH). Premium=ETHE priceEthereum per share \* Ethereum priceEthereum per share \* Ethereum price\text{Premium} = \frac{\text{ETHE price} - \text{Ethereum per share \* Ethereum price}}{\text{Ethereum per share \* Ethereum price}}

Interpretation

High premium: It indicates the U.S. bullish market toward ETH, which also indicates downside risk. Low premium: It indicates the U.S. bearish market toward ETH, which also indicates the upside risk.