Grayscale Investments is the latest to update its proposed registration statement. Ethereum ETH
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Add language about funds, ether handling, and trustworthiness about them.
Grayscale submitted an amendment. S-3 Registration Statement the next day, thursday black stone One week after submitting the amended S-1 statement U.S. Securities and Exchange Commission Approved 19b-4 is the form for eight Ethereum exchange-traded funds.
The cryptocurrency asset manager included new language in its updated filing about how much ether is needed to create a basket of stocks.
“As of May 28, 2024, the number of Ethereum required to create a 100-share basket is approximately 0.94552590 Ethereum, and after the revised Trust Agreement becomes effective, the number of Ethereum required to create a 10,000-share basket is 94.552590 Ethereum. ,” read the latest filing.
More registration statements are expected to be filed as the SEC asks issuers to submit drafts by Friday, the people said. the block. No ETF trading will occur until the registration statement becomes effective.
Grayscale converted the Ethereum Trust to a spot Ether ETF in October last year. Grayscale Ethereum Trust launched in March 2019 and, according to filings, is the world’s largest ETH investment vehicle. Grayscale pointed out that as of March 31, the trust held approximately 2.5% of the ether in circulation.
state of ether
Since the spot Ethereum ETF was approved last week, some in the cryptocurrency industry have wondered whether Ethereum is still considered a security and falls under the SEC’s jurisdiction. Some, including Paul Grewal, Coinbase’s chief legal officer, said: ether It’s no longer a security.
Grayscale addresses ether processing in its latest filing.
“While other U.S. and state agencies, such as the SEC, have not made formal declarations or issued guidance or rules regarding the handling of ether, the SEC, through its delegated authority, has approved the filing of exchange rules for listing shares of trusts that hold ether as a commodity. “The exchange-based products implicitly accepted the view that Ethereum is a commodity,” Grayscale said.
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