PANews reported on July 23 that according to Cointelegraph, Grayscale transferred $1 billion worth of Ethereum (292,262 ETH) to Coinbase one day before the launch of the Ethereum ETF (5:28 am Beijing time today). This large transfer indicates that Grayscale is preparing for the first batch of US spot Ethereum ETFs to begin trading on July 23. Coinbase will provide custody services for eight of the nine newly approved Ethereum ETFs.
