Grayscale submits SEC filing to convert Ethereum Trust to spot ETF

Grayscale submits SEC filing to convert Ethereum Trust to spot ETF

) futures exchange-traded fund , Grayscale Investment is set to convert its Grayscale Ethereum Trust to a spot Ethereum spot ETF.

The New York Stock Exchange Arca filed for the conversion with the United States Securities and Exchange Commission on Oct. 2. The existing Trust invested in Ethereum futures contracts as an indirect means of exposure to ETH, while a spot ETF will invest in the underlying asset itself.

“As we file to convert ETHE to an ETF, the natural next step in the product’s evolution, we recognize this as an important moment to bring Ethereum even further into the U.S. regulatory perimeter.” The Grayscale Ethereum Trust was launched in March 2019 and went onto become an SEC reporting company in Oct. 2020, giving the public direct insight into the performance of its cryptocurrency investment vehicle.

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