Ethereum
Grayscale Files to Record Ethereum Trust Actions and Lower Cost Replacement Plans
Photography Dennis Diatel
Grayscale Investments reached another key milestone in its efforts to put its Ethereum up for sale on Tuesday (ETH-USD) are putting their faith in an ethereum spot exchange-traded fund, while also announcing plans to launch a lower-fee alternative.
The world’s largest crypto asset manager filed S-3 filing with the United States Securities and Exchange Commission (SEC) to list shares of Grayscale Ethereum Trust under the symbol “ETHE”.
“Earlier this year, NYSE Arca filed Form 19b-4 for Grayscale Ethereum Trust, laying the groundwork for a new stage in ETHE’s product lifecycle. We are proud to work to take the second largest crypto asset by market capitalization even further. American regulatory scope,” Grayscale said on X (formerly Twitter).
“It is important to note that no action is required from current shareholders of Grayscale Ethereum Trust,” the crypto asset manager added.
Grayscale also said it filed with the SEC to register shares of a new Ethereum spot (ETH-USD) exchange-traded fund (ETF) called “Grayscale Ethereum Mini Trust” under the proposed symbol “ETH”.
The new trust would be created through a spin-off and distribution of Grayscale Ethereum Trust.
“We believe the approval of the Grayscale Ethereum Mini Trust would be a net positive for existing ETHE shareholders who are expected to maintain the same exposure to Ethereum (ETH-USD) with the added benefit of lower average fees for both products,” Craig Salm, Grayscale’s chief legal officer, said in a statement. statement.
“We know that investors are not a monolith – investors have different needs based on their specific investment strategies. That is why Grayscale has submitted a registration statement for Grayscale Ethereum Mini Trust with the SEC” , Salm said.
“Subject to required regulatory approvals, it would be launched as a lower-fee alternative Ethereum spot ETF and is designed for investors looking to optimize their Ethereum ETF investment for a “buy and hold” investment strategy in their account. brokerage or retirement, for example,” Salm added.