1 year ago
Grayscale Investments, the largest integer plus money manager by assets nether absorption (AUM), has filed to person its Ethereum Trust into a spot ether exchange-traded money (ETF). The quality follows ether futures ETFs from Vaneck, Bitwise, and Proshares launching connected Monday.
Grayscale’s Ethereum Trust connected Path to Become Spot Ether ETF
On October 2, 2023, Grayscale announced it has submitted a Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) to person its Ethereum Trust into a physically backed ETF connected NYSE Arca.
“As we record to person ETHE to an ETF, the earthy adjacent measurement successful the product’s evolution, we admit this arsenic an important infinitesimal to bring Ethereum adjacent further into the U.S. regulatory perimeter,” Grayscale CEO Michael Sonnenshein said.
The company’s property merchandise said the Form 19b-4 filing coincides with the futures ETFs from Vaneck, Proshares, and Bitwise that began trading Monday. Grayscale is besides moving to person its Bitcoin Trust into a physically backed ETF but faces a ineligible situation with the SEC implicit its approval. Launched successful March 2019, the Ethereum Trust present has an AUM of $4.96 billion, Grayscale’s web portal shows.
Grayscale besides plans to launch an ethereum futures ETF based connected cash-settled CME futures contracts with regulatory approval. David LaValle, Grayscale’s planetary caput of ETFs, said Monday that the filing “is different important milestone arsenic Grayscale continues to physique its best-in-class ETF team, merchandise suite, and capabilities – serving investors arsenic a globally respected plus manager with unmatched crypto expertise.”
What bash you deliberation astir Grayscale registering to crook its Ethereum Trust into a spot ether ETF? Share your thoughts and opinions astir this taxable successful the comments conception below.
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