Crypto-focused investment firm Grayscale has filed with the SEC to convert its Grayscale Ethereum Trust fund into a spot Ethereum ETF.
Grayscale has taken action for the spot Ethereum ETF. According to the statement made in Grayscale’s press release dated October 2 New York Stock Exchange (with NYSE Arca) Grayscale Ethereum Trust (ETHE) One spot Ethereum (ETH) to exchange traded fund (ETF) to convert To the US Securities and Exchange Commission (SEC) applied.
Grayscale’s Ethereum Trust fund includes With assets of $5 billion It is recorded as the world’s largest Ethereum investment product.
Grayscale CEO Michael Sonnenshein made the following statement on the subject:
At Grayscale, we are committed to providing investors with transparent and regulated access to cryptocurrencies through well-known product structures.
On the other hand, Sonnenshein stated that the application in question of Ethereum In order to be included in the regulatory framework of the USA It’s a big move He said they were aware of it.
In the statement, the fund in question May 2019 It was stated that it was launched in . The fund also 250 more than a thousand It was emphasized that it was a US citizen and had a volume of millions of dollars during the day.
Grayscale, GBTC fund into spot Bitcoin (BTC) ETF SEC’s submission to the conversion application In the lawsuit filed after the rejection He was found right. The company is currently spot Bitcoin ETFIt is awaiting approval to be converted to . The application in question seems to be the new competition between the two.