Monday, December 11, 2023

Grayscale Investments in conjunction with NYSE Arca has filed for approval from the U.S. Securities and Exchange Commission (SEC) to convert the Grayscale Ethereum Trust (ETHE) to a spot ethereum exchange-traded fund (ETF).

Grayscale’s Ethereum trust is the largest ether investment product in the world, with almost $5 billion in assets under management.

“At Grayscale, our unwavering commitment is to offer investors transparent and regulated access to crypto through product structures that are familiar,” said Grayscale CEO Michael Sonnenshein in a statement. “As we file to convert ETHE to an ETF, the natural next step in the product’s evolution, we recognize this as an important moment to bring Ethereum even further into the U.S. regulatory perimeter.”

The company – after a court victory over the SEC this past summer – is also awaiting approval from that agency to convert its Grayscale Bitcoin Trust (GBTC) to an ETF.

Grayscale is owned by CoinDesk’s parent company, Digital Currency Group.

Edited by Stephen Alpher.

#Grayscale #Moves #Convert #Ethereum #Trust #Spot #ETH #ETF

Banner Content
Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Related Article


Leave a Reply