[ProShares files S-1 for spot Ethereum ETF, expanding the functions of BNY Mellon and Coinbase] Golden Finance reported that ProShares filed an S-1 registration statement for its spot Ethereum ETF on June 11, confirming and expanding the roles of various fund participants. According to the document, Coinbase Credit will serve as the company's trade credit lender, allowing it to borrow Ethereum (ETH) and cash for certain transactions that exceed its trading balance. BNY Mellon will serve as a transfer agent, processing subscription and redemption orders and keeping records of fund ownership. The document also details previously disclosed roles, including BNY Mellon's role as administrator and cash custodian, Coinbase Custody's role as Ethereum custodian, Coinbase Inc.'s role as primary execution agency, Delaware Trust Company's role as trustee, and ProShare Capital Management's role as sponsor. The document allows changes to each position, including an initial term of two years for the BNY Mellon administrator position, which will be renewed annually. ProShares can also add or terminate ETH custodians, cash custodians, and primary execution agents at any time. In addition, Coinbase can also choose to resign from the role of cash custodian.