Fun

SEC approves Grayscale, Proshares spot Ethereum ETFs for trading on NYSE Arca

News Feed - 2024-07-18 06:07:44

Alex O’Donnell2 hours agoSEC approves Grayscale, Proshares spot Ethereum ETFs for trading on NYSE ArcaThe issuers must still await final regulatory signoff on S-1 filings before listing the funds.1312 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe United States Securities and Exchange Commission (SEC) approved two spot Ethereum  exchange-traded funds (ETFs) — Grayscale Ethereum Mini Trust and ProShares Ethereum ETF — for listing on the New York Stock Exchange’s (NYSE’s) Arca electronic trading platform, according to a July 17 filing. 


The approval of the so-called Form 19b-4 filing authorizes NYSE to facilitate trading of the funds. However, the issuers must still stand by for final comments on the ETFs’ respective S-1 filings before the spot products can actually commence with listing.


“Grayscale is excited to share that the [SEC] has approved Grayscale Ethereum Mini Trust’s (proposed ticker: ETH) Form 19b-4,” a Grayscale spokesperson said in a statement. “The Grayscale team continues to engage constructively with SEC staff, as we seek full regulatory approval for US spot Ethereum ETPs.”


Grayscale Ethereum Mini Trust is one of two spot Ethereum ETFs that the crypto investment manager is preparing to list. In May, Grayscale received SEC approval after filing a Form 19b-4 to convert its legacy spot ETH fund, Grayscale Ethereum Trust (ETHE), into an exchange traded fund.


On July 17, Grayscale announced plans to distribute shares of the new Mini Trust to holders of the ETHE fund. The Grayscale Ethereum Trust was first launched in 2017 and was among the first institutional investment vehicles for spot Ethereum.Historical performance of Grayscale Ethereum Trust (ETHE). Source: Grayscale


The SEC reportedly gave preliminary approval to at least three issuers to begin listing spot Ether ETFs as soon as July 23. A total of eight spot Ether ETFs are awaiting a final regulatory greenlight after weeks of back-and-forth dialogues with the SEC and multiple amendments to the funds" S-1 filings.


Related:21Shares Ether ETF to waive fees for up to 6 months


The ProShares Ethereum ETF has been a relative latecomer in the race, filing its Form 19b-4 roughly three weeks after its peers had already received approval. The ProShares fund is not among the eight expected to list next week.


Magazine:Saudi Arabia’s Riyadh may be crypto’s sleeping giant: Crypto City Guide# Cryptocurrencies# Law# Business# Government# Ethereum# Investments# SEC# Adoption# United States# Press Release# Trading# Regulation# Ethereum ETFAdd reaction

News Feed

Major Australian Baseball League Team Perth Heat to Pay Players in Bitcoin and Hold BTC on Balance Sheet
Major Australian Baseball League Team Perth Heat to Pay Players in Bitcoin and Hold BTC on Balance Sheet One of the most successful baseball teams in Australia, the Perth Heat, is
5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter
5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022"s Crypto Winter 2022 was a year of phenomenal cryptocurrency blowouts, as several pro
Savannah Fortis12 hours agoThe EU’s AI regulations sparked a letter signed by 160 tech execsAs the EU works on its upcoming AI bill, executives from 160 companies in the industry drafted an open letter on the implicati
BIS and 7 central banks to explore asset tokenization through Project Agora
Zhiyuan Sun7 hours agoBIS and 7 central banks to explore asset tokenization through Project AgoraThe proof-of-concept projects seek to create a centralized platform for cross-border CBDC payments and tokenized money tran
10 Countries Actively Regulating Cryptocurrency Despite Global Crisis
10 Countries Actively Regulating Cryptocurrency Despite Global Crisis Despite the coronavirus pandemic and the resulting financial crisis, at least 10 countries have made announc
Estonia, US Arrest 2 Suspects in $575 Million Crypto Fraud Scheme
Estonia, US Arrest 2 Suspects in $575 Million Crypto Fraud Scheme Law enforcement officers from Estonia and the United States have arrested two men for allegedly committing a large
Bitcoin Miner Greenidge Seeks to Raise $22.8 Million in Class A Common Stock Proposal
Bitcoin Miner Greenidge Seeks to Raise $22.8 Million in Class A Common Stock Proposal The bitcoin mining operation Greenidge Generation is seeking to raise roughly $22.8 million, a
Goldman Sachs Brings Back Bitcoin Trading Desk as the Firm Sees Crypto Market Becoming More Mature
Goldman Sachs Brings Back Bitcoin Trading Desk as the Firm Sees Crypto Market Becoming More Mature Global investment bank Goldman Sachs has brought back its bitc
Highest monthly close ever — 5 things to know in Bitcoin this week
William Suberg14 hours agoHighest monthly close ever — 5 things to know in Bitcoin this weekBitcoin sets multiple records at the end of Q1 as anticipation grows for a return to BTC price discovery.5531 Total views5 Tot
Key Bitcoin price metric drops to a 2-week low — Is the BTC bull market over?
Marcel Pechman5 hours agoKey Bitcoin price metric drops to a 2-week low — Is the BTC bull market over?Bitcoin price has dropped to a worrying low, leading some traders to throw in the towel and claim the bull run is ov
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate to Start the Week
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate to Start the Week Volatility in crypto markets remained high on Monday, as bitcoin was mostly in the red to start the wee
Report: IMF Says Central African Republic’s Bitcoin Adoption Poses Risks
Report: IMF Says Central African Republic"s Bitcoin Adoption Poses Risks The International Money Fund (IMF) has added its voice to institutions and parties criticizing the Central