Grayscale Updated Ethereum Application: More May Come!

Grayscale Investments, the world's largest cryptocurrency manager, updated the files of the mini fund it is trying to establish for Ethereum.

According to Bloomberg analyst James Seyffart, Grayscale has updated the 19b-4 file it prepared for Ethereum Mini Trust.

Seyffart said other issuers may take a similar step later in the day.

According to Reuters, the US Securities and Exchange Commission (SEC) has ordered exchanges that have applied to list spot Ethereum ETFs to update their files.

Analysts, who until last week had given a 25% chance of the SEC approving Ethereum ETFs, increased this to 75%.

On the one hand, Grayscale is trying to turn Grayscale Ethereum Trust into an ETF. Grayscale, which also has a mini fund for Bitcoin, keeps the fund management fee lower.

The Bloomberg analyst does not expect Grayscale's mini fund to be among the first Ethereum ETFs to be approved.