🚀 Attention crypto-investors! Grayscale is looking to convert its Grayscale Ethereum Trust into a spot Ether ETF. New York Stock Exchange Arca filed the application with the SEC on October 2. The current Grayscale trust invested in Ether futures contracts, but a spot ETF will invest directly in the underlying asset.
Grayscale CEO Michael Sonnenshein announced the news and highlighted the intention to offer conventional investment products with exposure to crypto assets. The Grayscale Ethereum Trust, launched in March 2019, is worth $4.9 billion and represents about 2.5% of the ETH in circulation.
What do you think of this advance in the world of cryptocurrencies? Comment below! 💬
Grayscale CEO Michael Sonnenshein announced the news and highlighted the intention to offer conventional investment products with exposure to crypto assets. The Grayscale Ethereum Trust, launched in March 2019, is worth $4.9 billion and represents about 2.5% of the ETH in circulation.
What do you think of this advance in the world of cryptocurrencies? Comment below! 💬