news.bitcoin.com
Grayscale Investments’ Chief Legal Officer announced that the firm has submitted a revised Form 19b-4 for spot Ether exchange-traded funds. The officer, Craig Salm, stated that investors are seeking access to ethereum via a spot Ethereum ETF.
Listing on the NYSE
Grayscale Investments, a digital asset management firm, recently submitted an amended Form 19b-4 filing for a spot Ethereum exchange-traded fund (ETF). Craig Salm, Grayscale’s chief legal officer, said this filing is a crucial step toward uplisting the Ethereum Trust to NYSE Arca.
We just filed @Grayscale Ethereum Trust's amended Form 19b-4 filing. This is an important step in our effort to uplist $ETHE to NYSE Arca.
Investors want and deserve access to #Ethereum in the form of a spot Ethereum ETF and we believe the case is just as strong as it was for… pic.twitter.com/fOwJlHS71o
— Craig Salm (@CraigSalm) March 15, 2024
In an update shared via X on March 15, Salm argued that investors are interested in the launch of an ethereum spot ETF, which he believes is as significant as a bitcoin ETF. He stated:
“Investors want and deserve access to ethereum in the form of a spot ethereum ETF and we believe the case is just as strong as it was for spot bitcoin ETFs.”
SEC Continues to Delay Decision on Ethereum ETFs
As detailed in a screenshot shared by the chief legal officer, Grayscale plans to list and trade shares of the Ethereum Trust under NYSE Arca Rule 8.201-E. The recently filed amendment supersedes the original file in its entirety. The screenshot further indicates that NYSE Arca does not foresee the proposed rule change impacting any other rule in effect at the time of the filing, either directly or indirectly.
Grayscale’s revised submission came a few weeks after the U.S. Securities and Exchange Commission (SEC) delayed its decision on Grayscale and Blackrock’s respective ethereum spot ETF applications. BlackRock intends to list the ETF on Nasdaq once it receives SEC approval.
As previously reported by Bitcoin.com News, the U.S. regulator has also postponed decisions on Invesco and Galaxy’s respective ethereum (ETH) applications. Despite the delay, some analysts remain confident that the SEC will approve ethereum ETFs sometime in May.
While the approval and subsequent launch of spot ethereum ETFs are expected to boost the second-largest crypto asset, two U.S. senators have urged the SEC to refrain from approving these. In their letter to SEC Chairman Gary Gensler, the lawmakers insisted that no other cryptocurrencies have the trading volumes or integrity to support associated Exchange-Traded Products (ETPs).
Do you agree that the SEC is likely to approve spot Ethereum ETFs by May? Share your thoughts in the comments section below.