Ethereum

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  Grayscale has filed an application with the U.S. SEC to convert its Ethereum Trust to a spot Ethereum ETF. 
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<div class="cointelegraph"> 
 <p>Following the clearance of the first Ethereum (ETH) futures exchange-traded fund (ETF), Grayscale Investment is set to <a rel="noopener noreferrer nofollow" title="convert" href="https://thebittimes.com/tag/convert.html">convert</a> its Grayscale Ethereum Trust to a spot Ethereum spot ETF.&nbsp;</p> 
 <p>The New York Stock Exchange Arca filed for the conversion with the United States Securities and Exchange Commission (SEC) on Oct. 2. The existing Trust invested in Ethereum futures contracts as an indirect means of exposure to ETH, while a spot ETF will invest in the underlying asset itself.&nbsp;</p> 
 <blockquote class="twitter-tweet"> 
  <p lang="en" dir="ltr"> @Grayscale has filed to <a rel="noopener noreferrer nofollow" title="convert" href="https://thebittimes.com/tag/convert.html">convert</a> Grayscale Ethereum Trust to a spot ETF. $ETHE<br><br>Thank you for your continued support -- our team is just getting started! https://t.co/3nNtfe4Nns</p>— Sonnenshein (@Sonnenshein) October 2, 2023 
 </blockquote> 
 <p>Grayscale CEO Michael Sonnenshein announced the move on X (previously Twitter) and highlighted the investment managers intent to provide conventional investment products offering exposure to cryptocurrency assets:</p> 
 <blockquote>
   “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.” 
 </blockquote> 
 <p>The Grayscale Ethereum Trust was launched in March 2019 and went onto become an SEC reporting company in Oct. 2020, giving the public direct insight into the performance of its cryptocurrency investment vehicle. </p> 
 <p>At the time of writing, the Ethereum Trust was valued at $4.9 billion, and accounts for around 2.5% of circulating ETH.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/grayscale-submits-sec-filing-to-convert-ethereum-trust-to-spot-etf-tbt64813.html">https://thebittimes.com/grayscale-submits-sec-filing-to-convert-ethereum-trust-to-spot-etf-tbt64813.html</a></p>

Grayscale submits SEC filing to convert Ethereum Trust to spot ETF

TheBitTimes

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