Grayscale seeks NYSE Arca listing for Ethereum trust: a new milestone in crypto ETF space

Following the successful approval of a spot Bitcoin ETF, Grayscale Investments is now eyeing an Ethereum ETF listing on NYSE Arca.

Craig Salm, Grayscale’s Chief Legal Officer, announced that the firm had submitted an amended Form 19b-4 for its Grayscale Ethereum Trust (ETHE).

The submission and acceptance of this filing with the SEC are key actions for making ETHE an accessible asset for trading on NYSE Arca.

It is one of the first securities invested in and deriving value exclusively on the price of ETH.

Salm emphasized that this development marks a crucial juncture in Grayscale’s journey to bring Ethereum into the mainstream financial market.

A Much-Anticipated SEC Decision

Grayscale aims to capitalize on the surging demand for cryptocurrencies by offering investors an accessible and recognized investment vehicle for Ethereum.

A prospective listing of Ethereum Token on NYSE Arca would benefit investors by simplifying Ethereum acquisitions and elevating its standing among financial institutions.

Salm stated that there is significant investor interest in owning Ethereum through a spot ETF, leveraging Grayscale’s proven track record and expertise.

The SEC has postponed Ethereum ETFs initial offering date to January 25, 2024, which was previously set for November 17, 2023.

This extension may impact other applicants, causing potential delays in the approval process for various Ethereum ETF proposals, including Grayscale’s.

The deadline for Grayscale’s Ethereum Trust Conversion (ETHE) is fast approaching, with a decision expected by June 18, 2024.

This persistent dedication to regulatory compliance and innovation within the cryptocurrency investment landscape underscores Grayscale’s commitment to expanding access to digital assets.

The Ethereum community and investors are keeping a close eye on the SEC’s review of Grayscale’s Form 19b-4, amended for its Ethereum Trust (ETHE), as an approval could pave the way for increased institutional adoption and broader market accessibility for Ethereum.

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