Craig Salm, Grayscale’s Chief Legal Officer, has announced the submission of an amended Form 19b-4 filing for their Ethereum ETF application, signaling a pivotal move towards upgrading ETHE to trade on the New York Stock Exchange (NYSE) Arca.
The update supports the argument that surveillance sharing within the CME ETH market is sufficient to protect against fraud and manipulation in the spot ETH market. Grayscale’s amendment also expands on the creation and redemption of ETF shares. Notably, this section describes only cash creations and redemptions.
Salm emphasizes the importance of providing investors with access to Ethereum through a spot Ethereum ETF, comparing its significance to that of spot Bitcoin ETFs.
Grayscale initiated efforts for a spot Ethereum ETF last October, with the SEC currently reviewing their application. The SEC has extended deadlines to evaluate Grayscale’s proposal, with the next one set for May 2024, aligning with their standard procedures observed for spot Bitcoin ETF approvals.
Also Read: Grayscale Launches Innovative Bitcoin Mini Trust for Investors
