Grayscale Updates 19b-4 Filing for Ethereum Trust’s Transition to NYSE Arca, Hinting at Possible ETF Arrival

Grayscale Investments, a renowned digital asset management firm, has set its sights on obtaining approval for a spot Ethereum ETF with the U.S. Securities and Exchange Commission (SEC) following the approval of the Spot Bitcoin ETF. In a recent update, Craig Salm, the company’s CLO, announced the submission of an amended Form 19b 4, a significant step in Grayscale’s efforts to list its Grayscale Ethereum Trust (ETHE) on the New York Stock Exchange (NYSE) Arca.

Grayscale’s aim is to meet the growing demand for cryptocurrencies by providing investors with access to Ethereum. If approved, the listing of ETHE on NYSE Arca will simplify investors’ ability to acquire Ethereum and enhance its reputation in the finance industry. Salm also mentions that there is investor interest in acquiring Ethereum through spot ETFs due to Grayscale’s trusted track record, similar to successful bitcoin ETFs.

However, the approval process for Grayscale’s Ethereum ETF is facing delays and scrutiny from the SEC, unlike the approval received for its Bitcoin ETF. The SEC extended the initial offering date for the Ethereum ETF from November 17 to January 25 to allow for more thorough reviews. Other applicants, such as VanEck, Ark Invest, Invesco, and Galaxy, may also experience delayed decisions by the regulator.

The approval deadline for the Spot Ethereum ETF is approaching, with Grayscale’s Ethereum Trust Conversion (ETHE) awaiting a decision by June 18, 2024. This development underscores Grayscale’s commitment to innovation and regulatory compliance in the cryptocurrency investment space.