Grayscale Investments, the world’s largest digital asset investment firm, has applied for SEC approval to convert its Ethereum Trust into a spot Ethereum ETF. The company, in partnership with NYSE Arca, submitted the proposal to the SEC on Tuesday. The Ethereum Trust is currently the world’s largest Ethereum investment product, with nearly $5 billion under management. If approved, this would be the second cryptocurrency ETF launched in the US in 2021, after the approval of the Purpose Bitcoin ETF earlier this year. Grayscale is also awaiting SEC approval to convert its Grayscale Bitcoin Trust into an ETF, which would result in a significant boost to the crypto industry.
Source: https://coinpedia.org/crypto-live-news/grayscale-applies-for-ethereum-etf/