Grayscale, the world’s largest Ethereum-based investment product, has filed an application with the SEC to convert its Ethereum Trust into a spot exchange-traded fund (ETF). If approved, this move would provide investors with transparent and regulated access to crypto within familiar product structures. Grayscale’s Ethereum Trust currently manages nearly $5 billion in assets and is accessible to around 250,000 investors. The company sees this as an important moment to bring Ethereum further within the US regulatory perimeter. Grayscale’s application comes after its recent victory against the SEC in August regarding its Grayscale Bitcoin Trust. The company aims to shepherd its crypto products through a four-phase lifecycle, with the final stage being conversion to an ETF.

AI Sentiment: Positive