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, Grayscale, the world's largest crypto asset manager, announced today that NYSE Arca has filed an application with the SEC and filed Form 19b-4 to convert the Grayscale Ethereum Trust into a spot Ethereum ETF.
Making a statement on the subject, Grayscale CEO Michael Sonnenshein 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.”
“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,” said David LaValle, Global Head of Grayscale ETFs. “We are proud to partner with NYSE Arca on the application and look forward to collaborating with the SEC on the next steps.” said.
ETH continues to trade at $1,731 at the time of writing.
*This is not investment advice.
