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.

AI Sentiment: Positive