Grayscale negotiated with authorities to issue Ethereum-ETF
Crypto fund issuer Grayscale and exchange Coinba.se (NASDAQ:COIN) recently negotiated with the U.S. Securities and Exchange Commission (SEC) over the issuance of a spot ETF based on Ethereum (ETH).
Grayscale specialists want to convert the Grayscale Ethereum Trust (ETHE), which tracks the price of ETH, into an ETF. The capitalization of this investment vehicle is now $11.6 billion, so if the authorities approve the organization’s initiative, Grayscale’s Ethereum-based ETF will be among the leading digital asset exchange-traded funds based on the amount of invested funds.
Representatives of Coinba.se claim that the Ethereum spot market, like Bitcoin, correlates with the futures market. The SEC has already given the go-ahead for ETF trading on Ethereum futures, and Nate Heratsi, president of the investment consulting company ETF Store, believes that the commission has no reason to reject the proposal to create an ETH-ETF.
