Grayscale Ethereum Spot ETF: The SEC acknowledges receipt!

Play for time, this is one of the strategies observed by the SEC with Spot Ethereum or Bitcoin EFTs. But things have changed recently: the American regulator receives pressure everywhere. Apparently, this worked wonderfully since the SEC did a big step forward for Grayscale’s Spot Ethereum ETF. Details !

Grayscal Spot Ethereum ETF Approved Soon?

In early October, the Securities and Exchange Commission surprised the crypto community with historic approval of Ethereum Futures ETFs from Bitwise, ProShares and VanEck. As for Grayscale, Gary Gensler’s team has not yet decided on its request for a Spot Bitcoin ETF. But regarding its Spot ETH ETF, the SEC, once again losing to Grayscale before the District of Columbia Court of Appeal, will have to revise its position.

“ Nate Geraci, president of The ETF Store, said that US SEC Acknowledges Grayscale Filing for Ethereum Spot ETF, which will be the process of converting ETHE into ETF. Previously, Grayscale and NYSE Acra jointly applied to convert their Ethereum Trust Fund (ETHE) into a spot Ethereum ETF. »

Translation of Nate Geraci’s tweet:

“ The SEC has acknowledged receipt of Grayscale’s ETF application for ether… This would involve the conversion of $ETHE into an ETF. »

On Crypto Briefing, we were able to take details supplementing these publications. Make no mistake, this is not a validation of Grayscale Investments’ Spot Ether ETF application. In fact, it is an acknowledgment of receipt of requestif we refer to the tweet from the president of The ETF Store.

The NYSE Arca filing also demonstrates that the famous Ether spot ETF application was filed on October 2. And in case of validation, Grayscale’s existing Ethereum trust (ETHE) will change to a Spot ETH Exchange-Traded Fund (ETF).

What will happen next? Generally, the SEC will initiate a formal review process of Grayscale’s application. Do not forget that the American financial policeman has several months to decide on the subject.