Grayscale files to convert its Ethereum Trust to a spot Ether ETF

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.

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