Cryptocurrency News Official TheBitTimes.com

Grayscale Investment submitted an application with the SEC seeking to reshape its current Ethereum-based trust into an exchange-traded fund tied to Ether’s spot price. The conversion move was disclosed in a Form 19b-4 SEC filing made by the New York Stock Exchange (NYSE) Arca, Grayscale’s chief legal officer Craig Salm confirmed via a post on X (formerly Twitter). If successful, the bid would convert the largest Ethereum-focused investment fund from a publicly traded private trust to a spot Ether ETF.  Today @Grayscale filed a 19b-4 to convert $ETHE to a spot #Ethereum ETF. The justification is simple: the recently effective #ETH futures ETFs are the same as spot ETH ETFs across the relevant regulatory factors. More in the PR here: https://t.co/mJDo4m0hgC — Craig Salm (@CraigSalm) October 2, 2023 Grayscale Ethereum Trust, which trades under the ticker ETHE, commands $5 billion in assets under management (AUM) and accounts for over 2% of ETH’s circulating supply at press t...

Mantle DAO community member proposed restricting FTX from converting $43 million in BitDAO tokens to MNT amid ongoing token migration. A community member within the Mantle decentralized autonomous organization (DAO) has initiated a discussion proposing to restrict the collapsed FTX exchange and Alameda Research from convert ing their BitDAO (BIT) token s, worth $43 million, to Mantle (MNT) token s. The background of this proposal dates back to Nov. 2, 2021, when BitDAO swapped 100 million BIT with Alameda for over 3.3 million FTX tokens (FTT). The trade was accompanied by a mutual commitment to retain each other’s tokens until Nov. 2, 2024. However, following the FTX fallout in 2022, BitDAO suspected Alameda of offloading the token s, leading to a sharp decline in BIT’s value. Caroline Ellison, former Alameda CEO, refuted any involvement in the token ’s depreciation. You might also like: US Fed takes action against bank linked to FTX’s Alameda Research Mo...