Grayscale Files SEC Application to Transform Ethereum Trust into Spot ETF

Grayscale Investments® announced today that NYSE Arca has submitted Form 19b-4 to the SEC to convert the Grayscale Ethereum Trust (OTCQX: ETHE) into a spot Ethereum ETF, as per a GlobeNewswire report.

Grayscale's CEO, Michael Sonnenshein, stated, "At Grayscale, we are dedicated to providing investors with transparent and regulated access to cryptocurrencies through familiar product structures. Converting ETHE into an ETF is the next natural step in the product's evolution, and we see it as a significant moment in bringing Ethereum further within the U.S. regulatory framework."

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Grayscale remains committed to guiding its digital asset products through their intended four-phase lifecycle, with the final stage being conversion into an ETF. ETHE, launched in March 2019, publicly quoted in May 2019, and voluntarily registered as an SEC reporting company in October 2020, is now the largest Ether investment vehicle globally, managing nearly $5 billion in assets, which represents 2.5% of all circulating Ether. The product sees daily trading volumes in the millions of dollars and is held by over a quarter of a million American investor accounts.

Grayscale Global Head of ETFs, David LaValle, commented, "This filing marks another significant milestone in Grayscale's journey as we continue to strengthen our ETF team, expand our product offerings, and serve investors as a highly respected global asset manager with unparalleled expertise in cryptocurrencies. We are proud to collaborate with NYSE Arca on this submission and eagerly await engagement with the SEC on the next steps."

Resources:

GlobeNewswire

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