Fun

News Feed - 2023-10-02 09:10:27

Gareth Jenkinson11 hours agoGrayscale submits SEC filing to convert Ethereum Trust to spot ETFCrypto asset manager Grayscale has filed an application with the U.S. SEC to convert its Ethereum Trust to a spot Ethereum ETF.3111 Total views6 Total sharesListen to article 0:00NewsJoin us on social networksFollowing the approval of the first Ether (ETH) futures exchange-traded fund (ETF), Grayscale Investments is looking to convert its Grayscale Ethereum Trust to a spot Ether exchange-traded fund (ETF). 


The New York Stock Exchange Arca filed for the conversion with the United States Securities and Exchange Commission (SEC) on Oct. 2. Grayscale’s existing trust invested in Ether futures contracts as an indirect means of exposure to ETH, but a spot ETF will invest in the underlying asset itself. @Grayscale has filed to convert Grayscale Ethereum Trust to a spot ETF. $ETHE

Thank you for your continued support -- our team is just getting started! https://t.co/3nNtfe4Nns— Sonnenshein (@Sonnenshein) October 2, 2023


Grayscale CEO Michael Sonnenshein announced the move on X (formerly Twitter) and highlighted the firm’s intent to provide conventional investment products offering exposure to cryptocurrency assets:“As we file to convert ETHE to an ETF, the natural next step in the product’s evolution, we recognize this as an important moment to bring Ethereum even further into the U.S. regulatory perimeter.”


The Grayscale Ethereum Trust was launched in March 2019 and went on to become an SEC reporting company in October 2020, giving the public direct insight into the performance of its cryptocurrency investment vehicle.


At the time of writing, the Ethereum Trust is valued at $4.9 billion and accounts for around 2.5% of circulating ETH. Grayscale also reports that 250,000 investor accounts have exposure to the trust.


Grayscale also indicated that it remains committed to taking its cryptocurrency products through an “intended four phase lifecycle” ending with a conversion to an ETF. The platform currently offers 17 different cryptocurrency investment products.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.# Ethereum# SEC# Adoption# Grayscale# Ether Price# RegulationAdd reactionAdd reactionRead moreWhat are NFT royalties, and how do they work?Expect new crypto regulations to follow Bitcoin ETFsAI a powerful tool for devs to change gaming, says former Google gaming head

News Feed

Derek Andersen4 hours agoCrypto asset investment in Latvia declines by 50% over past year, per central bankAccording to Latvijas Banka, 4% of the population bought crypto assets in February, down from 8% in 2022, while p
Joe Hall7 hours agoSmall Islands, big problems: Can Bitcoin fix this? Cointelegraph Cape Verde videoA small island nation in the Atlantic Ocean grapples with a cash economy influenced by tourism, remittances and limited
Binance founder CZ walks free from US prison
Alex O’Donnell3 hours agoBinance founder CZ walks free from US prisonHe served four months in federal prison for charges including alleged violations of United States Anti-Money Laundering rules.1075 Total views9 Total
Introducing Wallex Custody, The Custodian Of The New Digital Era
Introducing Wallex Custody, The Custodian Of The New Digital EraSweden, June 15 – In a decisive move to adapt to the new normal concept of everyday living caused by the COVID-
Citi Analyst Warns of ‘Serious’ Contagion Risk to Crypto Ecosystem From FTX Failure
Citi Analyst Warns of "Serious" Contagion Risk to Crypto Ecosystem From FTX Failure A Citi analyst has warned of a serious risk of broader contagion to the crypto ecosystem stemmin
Bitcoin, Ethereum Technical Analysis: BTC Back Above $40,000 as Bulls Re-Enter
Bitcoin, Ethereum Technical Analysis: BTC Back Above $40,000 as Bulls Re-Enter After falling to multi-week lows to start the week, BTC rebounded back above the $40,000 level on Tue
Dogecoin Is ‘Ready To Run Again’ – Analyst Expects 60% Rally
Este artículo también está disponible en español. Dogecoin has entered a consolidation phase, holding below its recent local high of $0.48. Despite showing signs of bulli
Savannah Fortis9 hours agoUS and China AI-tech standoff shows signs of spreading to other countriesThe ongoing spat between the United States and China over emerging tech like AI continues as U.S. President Joe Biden res
XRP Price Prediction: Analyst Gives Reasons For Why $10,000 Is A Feasible Price Target
Este artículo también está disponible en español. Crypto analyst Vincent has given reasons why the XRP price could rally to as high as $10,000 at some point. This comes a
UK Widens Crackdown on Unauthorized Crypto ATMs
UK Widens Crackdown on Unauthorized Crypto ATMs Britain’s top financial regulator, the Financial Conduct Authority (FCA), has widened its crackdown on unauthorized cryptocurr
Report: Chinese Company Launches Digital Currency Insurance Product
Report: Chinese Company Launches Digital Currency Insurance Product The Suzhou branch of the Chinese insurance company China Pacific Insurance, together with the Bank of Communicat
Nokia Believes the Metaverse Will Replace Smartphones in the Future
Nokia Believes the Metaverse Will Replace Smartphones in the Future Nokia, one of the first companies to manufacture a consumer-grade mobile phone system, now believes the metavers