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Grayscale has applied with the U.S. SEC to convert its Ethereum Trust into a spot Ethereum ETF. The existing Trust invested in Ethereum futures contracts, while a spot ETF would invest directly in the underlying asset. Grayscale CEO Michael Sonnenshein announced the move on X and emphasized the company’s intention to provide conventional investment products related to cryptocurrency assets. The Grayscale Ethereum Trust was launched in 2019 and became an SEC reporting company in 2020.
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