Grayscale, a cryptocurrency asset manager, has submitted an application to the U.S. Securities and Exchange Commission (SEC) to transform its Ethereum Trust (ETHE) into a spot Ethereum exchange-traded fund (ETF). This move comes after Grayscale’s recent legal victory against the SEC in a lawsuit involving a Bitcoin ETF. The CEO of Grayscale expressed their dedication to providing investors with transparent and regulated access to cryptocurrency. ETHE currently holds the title of the largest investment vehicle for Ethereum globally, managing assets worth around $5 billion. Grayscale aims to transition all its digital asset offerings into ETFs and sees this application as a significant milestone in expanding the regulatory framework for Ethereum.
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