Grayscale files to convert $5b Ethereum fund into spot Ether ETF
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...