Will Grayscale’s Ethereum ETF Receive Approval? NYSE Arca Awaits SEC Authorization

Grayscale Investments, a well-known digital asset management company, is now focused on gaining approval from the U.S. Securities and Exchange Commission (SEC) for a spot Ethereum ETF. This move comes after the recent approval of the Spot Bitcoin ETF. Craig Salm, Grayscale’s Chief Legal Officer, took to Twitter to share an important update about the amended Form 19b 4 submission. This update is a crucial step in Grayscale’s journey to list its Grayscale Ethereum Trust (ETHE) on the New York Stock Exchange (NYSE) Arca.

The filing of Grayscale Ethereum Trust’s amended Form 19b 4 is significant as it paves the way for a potential listing on NYSE Arca, bringing a spot Ethereum ETF closer to reality. Grayscale aims to meet the growing demand for cryptocurrencies by providing investors with access to Ethereum. If approved, the listing of ETHE on NYSE Arca will make it easier for investors to acquire Ethereum and enhance its position in the financial industry.

Salm emphasizes the investor interest in spot ETFs for Ethereum, highlighting Grayscale’s successful track record with Bitcoin ETFs. However, the approval process for the Ethereum ETF faces delays compared to its Bitcoin counterpart. The SEC’s extension of the initial offering date for the Ethereum ETF reflects a thorough review process. Other applicants, including VanEck, Ark Invest, Invesco, and Galaxy, may also experience similar delays.

The deadline for the decision on the Spot Ethereum ETF is approaching, and Grayscale’s Ethereum Trust Conversion (ETHE) awaits a verdict by June 18, 2024.

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