Grayscale Investments, a leading digital asset manager, takes a bold step in the Ethereum (CRYPTO:ETH) spot ETF arena by filing an S-3 Registration Statement for its Ethereum Trust, signaling progress in its Ether investment offerings.
The filing, reported by Fox Business journalist Eleanor Terrett, aims to convert Grayscale's Ethereum Trust into a spot ETH ETF, advancing its presence in the ETF market.
Unlike other ETH ETF applicants, Grayscale's Ethereum Trust is already registered with the SEC, eliminating the need for an S-1 form and streamlining the regulatory process for its ETF application.
Grayscale's move includes filing for an S-1 mini Ethereum ETF, mirroring its Bitcoin (CRYPTO:BTC) mini-me ETF application, which seeks to address GBTC outflows post-BTC ETF approval, although awaiting SEC approval.
The ETF shares are set to be listed on NYSE Arca, with Grayscale's filing under the Securities Act of 1933 following NYSE Arca's Form 19b-4 submission for the Grayscale Ethereum Trust.