Ethereum

<ul> 
 <li><strong>Coinbase urges the SEC to approve Grayscale’s Ethereum ETF application.</strong></li> 
 <li><strong>The platform provides Grayscale’s legal, technical, and economic rationale to win approval.</strong></li> 
 <li><strong>Paul Grewal asserts that Coinbase’s support for the ETF is mainly driven by Ethereum’s status as a commodity.</strong></li> 
</ul> 
<p>In a novel development in the exchange-traded funds (ETFs) market, Coinbase has <a href="https://assets.ctfassets.net/c5bd0wqjc7v0/5ffEPeAh1qv8p7BksKFctz/e17307dfe5d692002c6f842807ff4272/Grayscale_Ether_ETP_Application_--_Coinbase_Response_Letter_to_SEC.pdf" target="_blank" rel="nofollow">urged</a> the <a href="https://coinedition.com/tag/sec/">Securities and Exchange Commission (SEC)</a> to approve Grayscale’s Ethereum ETF. Coinbase’s Chief Legal Officer Paul Grewal, in a recent X post, shared insights on Grayscale’s legal, technical, and economic rationale to win the approval.</p> 
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   <p lang="en" dir="ltr">Today <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@coinbase</a> responded to <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@SECGov</a>'s request for comment on the proposed <a href="https://twitter.com/Grayscale?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@Grayscale</a> Ether Trust ($ETHE) ETP. 27 pages and 96 citations that provide the (1) legal, (2) technical, and (3) economic rationale for approval. 1/6</p>— paulgrewal.eth (@iampaulgrewal) <a href="https://twitter.com/iampaulgrewal/status/1760429424951054495?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">February 21, 2024</a>
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<p>In October 2023, Grayscale <a href="https://coinedition.com/grayscale-files-to-convert-5-billion-ethereum-trust-into-an-etf/">applied</a> to convert its $5 billion Ethereum Trust into spot Ethereum ETFs. The report was first unveiled by NYSE Arca, an exchange that is expected to list the ETF. While the asset manager awaits the SEC’s regulatory approval, CEO Michael Sonnenshein ass…</p>
<p>The post <a href="https://coinedition.com/coinbase-urges-sec-to-approve-grayscale-ethereum-etf-report/">Coinbase Urges SEC to Approve Grayscale Ethereum ETF: Report</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Coinbase Urges SEC to Approve Grayscale Ethereum ETF: Report

Coin Edition

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