Grayscale Investments has filed to convert its Ethereum Trust (ETHE) into an exchange-traded fund (ETF). This move comes after Grayscale’s court win against the SEC in August and as other fund groups, including VanEck and ProShares, prepare to launch the first ETFs investing in ether futures contracts. The filing by NYSE Arca, the exchange that would list the planned fund, marks an important moment to bring Ethereum further into the US regulatory perimeter, according to Grayscale CEO Michael Sonnenshein. The decision does not force the SEC to approve the conversion, but it prevents the regulator from denying such an application on previous grounds. Grayscale is working to build its ETF team and product suite, aiming to serve investors as a respected asset manager with unmatched crypto expertise.

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