According to GlobeNewswire, NYSE Arca, which operates as a subsidiary of NYSE Group, has filed an application with the SEC to convert Grayscale’s Ethereum Trust fund into a spot Ethereum ETF.
Accordingly, the world’s largest crypto asset manager Grayscale, today NYSE Arca’s Grayscale It announced that it has filed with the SEC and filed Form 19b-4 to convert its Ethereum Trust into a spot Ethereum ETF.
Commenting on the subject Grayscale CEO Michael Sonnenshein he said:
“At Grayscale, our unwavering commitment is to offer investors transparent and streamlined access to crypto through familiar product structures.
“As we file to convert the Grayscale Ethereum Trust (ETHE) into an ETF, which is the next natural step in the evolution of the product, we recognize this as an important moment that will bring Ethereum closer to the US regulatory environment.”
David LaValle, Global Head of Grayscale ETF “This filing is an important milestone as Grayscale continues to build its best-in-class ETF team, product suite and capabilities and serve investors as a globally respected asset manager with unparalleled crypto expertise. “We are proud to partner with NYSE Arca on this filing and look forward to collaborating with the SEC on next steps.” said.
ETH At the time of writing, it continues to be traded at $ 1,731.
*This is not investment advice.
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