# 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.