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Home»ETHEREUM NEWS»Ethereum Spot ETF Saga: Grayscale Takes a Bold Step with Form S-3 Filing.
ETHEREUM NEWS

Ethereum Spot ETF Saga: Grayscale Takes a Bold Step with Form S-3 Filing.

By Crypto FlexsApril 24, 20243 Mins Read
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Ethereum Spot ETF Saga: Grayscale Takes a Bold Step with Form S-3 Filing.
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With the optimism around Ethereum Spot Exchange Traded Fund (ETF) As the decline continues, Grayscale Investments, the world’s leading digital asset manager, has taken a major step forward in its Ether investment services by filing an S-3 registration statement for the Ethereum Trust.

Grayscale Ethereum Trust sets the stage for growth

Popular Fox Business journalist Eleanor Terrett reported The company has filed an S-3 registration statement with the U.S. Securities and Exchange Commission (SEC), requesting that the Ethereum Trust be converted to a spot ETH ETF.

According to Terrett, Grayscale’s Ethereum Trust product is already registered with the SEC, so it does not need to file an S-1 form like other ETH ETF issuers or applicants such as Van Eck, Blackrock, Ark Invest, Hashdex, and Invesco Galaxy.

With its latest filing, Grayscale has submitted all the documents necessary for the regulatory watchdog to consider and rule on the ETH ETF application. However, the document has not yet been released to the general public.

Terret also reported that the asset firm filed for an S-1 mini Ethereum ETF with the ETH ticker, similar to the Bitcoin mini-ETF it filed with the BTC ticker. Last March, the asset manager applied to the SEC for approval to spin off some of its GBTC shares to launch a new mini-BTC ETF.

Grayscale, in particular, has come up with a strategy to stop its ever-increasing traffic. GBTC leak After the BTC ETF was approved in the US. However, Minime Bitcoin ​ETF has not yet received approval from the agency.

ETF shares scheduled to be listed on NYSE Arca

It is worth noting that the Company filed a Form S-3 with the Commission under the Securities Act of 1933. The company took this action after NYSE Arca filed Form 19b-4 for the Grayscale Ethereum Trust.

Subject to the approval of NYSE Arca’s Form 19b-4 application to list its shares and the effectiveness of its Form S-3 for registration of its shares; grayscale We plan to list the ETH ETF on NYSE Arca under the name ETHE and continuously issue shares. These shares are being offered only by means of a prospectus.

The stock has been registered with the SEC through a registration statement, but is not yet considered operating. No shares or purchase bids may be accepted before the registration statement becomes effective and any sale of such shares will be considered unlawful.

By filing the S-3 Registration Statement, Grayscale hopes to improve regulatory compliance and clarity regarding the S-3. ETH trust. As a result, it will provide potential investors with more confidence and clarity when negotiating the complexities of cryptocurrency investments.

This move demonstrates Grayscale’s proactive response to the growing demand from institutional and retail investors for Ethereum exposure and strengthens its position as a leader in the digital asset market.

ETH trading at $3,252 on 1D chart | Source: ETHUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

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