Grayscale Investments has applied for approval from the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Ethereum Trust (ETHE) to a spot ethereum exchange-traded fund (ETF).
Grayscale filed the application in conjunction with NYSE ARCA.
Grayscale’s Ethereum trust is the largest ether investment product in the world, with almost $5 billion in assets under management.
The company is also awaiting approval from the SEC to convert its Grayscale Bitcoin Trust (GBTC) to an ETF.
