NYSE Arca Files Form 19b-4 To Convert Grayscale Ethereum Trust To An ETF
Portfolio Pulse from Benzinga Newsdesk
Grayscale Investments, the world's largest crypto asset manager, has announced that NYSE Arca has filed Form 19b-4 with the SEC to convert Grayscale Ethereum Trust (ETHE) to a spot Ethereum ETF. This follows the SEC's clearance of the first Ethereum futures ETFs. ETHE, launched in March 2019, is the largest Ether investment vehicle in the world, with assets under management of nearly $5b, representing 2.5% of all Ether in circulation.
October 02, 2023 | 12:37 pm
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Grayscale Ethereum Trust (ETHE) is set to be converted into a spot Ethereum ETF, pending SEC approval. This could potentially increase the liquidity and accessibility of the trust.
The conversion of ETHE into an ETF could potentially increase its liquidity and accessibility, making it more attractive to investors. This could lead to an increase in demand for ETHE, potentially driving up its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The conversion of Grayscale Ethereum Trust (ETHE) into a spot Ethereum ETF could potentially increase the demand for Ethereum, potentially driving up its price.
The conversion of ETHE into an ETF could potentially increase the demand for Ethereum as it becomes more accessible to investors. This could lead to an increase in the price of Ethereum in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80