๐จBREAKING: Grayscale Moves to Convert Ethereum Trust to Spot ETF
Crypto giant Grayscale Investments has approached the U.S. SEC with a proposal to change its existing Grayscale Ethereum Trust into a direct Ethereum spot ETF. This strategic shift follows the recent green light for the first Ether futures ETF. Grayscale's current Ethereum Trust operates with Ether futures, but the new spot ETF would invest directly in Ethereum. CEO Michael Sonnenshein announced the move on X, highlighting Grayscale's commitment to bridging traditional and crypto investments. The trust, launched in 2019, now holds a value of around $4.9 billion, with over 250,000 associated investor accounts. Grayscale continues to evolve its crypto products, aiming for eventual ETF conversions.
#crypto2023 #BTC #ETH #cryptonews #Binance $BTC
Crypto giant Grayscale Investments has approached the U.S. SEC with a proposal to change its existing Grayscale Ethereum Trust into a direct Ethereum spot ETF. This strategic shift follows the recent green light for the first Ether futures ETF. Grayscale's current Ethereum Trust operates with Ether futures, but the new spot ETF would invest directly in Ethereum. CEO Michael Sonnenshein announced the move on X, highlighting Grayscale's commitment to bridging traditional and crypto investments. The trust, launched in 2019, now holds a value of around $4.9 billion, with over 250,000 associated investor accounts. Grayscale continues to evolve its crypto products, aiming for eventual ETF conversions.
#crypto2023 #BTC #ETH #cryptonews #Binance $BTC