According to CryptoSlate, ProShares submitted the S-1 registration statement for the Ethereum spot ETF on June 11.
According to the filing, Coinbase Credit will serve as the company’s trading credit lender, allowing it to borrow Ethereum (ETH) and cash in certain transactions that exceed its trading balance. Bank of New York Mellon will serve as a transfer agent, processing subscription and redemption orders and keeping records of fund ownership.
In addition, The Bank of New York Mellon (BNY Mellon) will serve as the administrator and cash custodian, Coinbase Custody will serve as the Ethereum custodian, Coinbase Inc. will serve as the lead enforcer, Delaware Trust Company will serve as the trustee, and ProShare Capital Management will serve as the issuer.