Ethereum

Bitcoin

<a href="https://optimisus.com/news/crypto-news/grayscales-gbtc-sees-over-10b-outflow-marking-a-record-withdrawal/" rel="noopener noreferrer nofollow">Grayscale</a> intends to introduce a spot Ethereum ETF and has submitted an updated application to the US Securities and Exchange Commission (SEC). The company contends that the triumph of Ethereum futures ETFs bolsters the argument for a direct Ethereum ETF.  
The objective of <a href="https://optimisus.com/news/crypto-news/grayscale-bitcoin-trust-gbtc-sees-over-2-billion-outflows-in-just-5-days-amid-etf-landscape-shift/" rel="noopener noreferrer nofollow">Grayscale's proposa</a>l is to transform its Ethereum Trust into an Exchange-Traded Fund (ETF) that may be traded on NYSE Arca.  
The company then presents the SEC's previous endorsement of Ethereum futures ETFs, the successful monitoring of the market by the Chicago Mercantile Exchange, and the study of correlations by Coinbase as proof of their ability to handle fraud and manipulation.  
Craig Salm, the Chief Legal Officer of Grayscale, has the belief that the desire for a spot Ethereum ETF is comparable to that of Bitcoin ETFs.  
The Grayscale Ethereum Trust, which oversees $11.8 billion in assets, has a substantial share of the Ethereum market. The transition to an ETF is anticipated to release $1.73 billion in value.  
Nevertheless, the probability of SEC approval is anticipated to decrease to 26% as a result of apprehensions expressed by two U.S. senators about the integrity of the crypto market and the relationship between futures and spot markets. 
The post <a href="https://optimisus.com/news/crypto-news/grayscale-pushes-for-the-first-spot-in-ethereum-etf-despite-facing-regulatory-hurdles/" rel="noopener noreferrer nofollow">Grayscale pushes for the first spot in Ethereum ETF despite facing regulatory hurdles</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Grayscale pushes for the first spot in Ethereum ETF despite facing regulatory hurdles

Optimisus

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