The article discusses the approval of Grayscale’s Ethereum Exchange-Traded Fund (ETF) filing by the United States Securities and Exchange Commission (SEC). The proposal aims to convert the Grayscale Ethereum Trust into an ETF. The trust currently holds a significant amount of Ethereum and manages assets worth $5 billion. Grayscale’s move aligns with the market trend of firms filing for Ethereum ETFs based on futures contracts. The SEC has been pressured by various financial firms, including BlackRock and Fidelity, to approve spot Bitcoin and Ethereum ETFs. A court ruling also mandated the SEC to review Grayscale’s filing to convert its Bitcoin Trust into an ETF. Grayscale has also submitted a proposal to list shares of its Bitcoin Trust on the New York Stock Exchange. Overall, the approval of Grayscale’s Ethereum ETF filing is expected to revolutionize the accessibility of the crypto market for investors.
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