Ethereum
Repositing Grayscale Updates for Ethereum Mini Trust
Alex Dovbnya
Grayscale is among the potential Ethereum ETF issuers that have already updated their Forms 19b-4
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Grayscale has deposit a modified version of its Form 19b-4 for its Ethereum Mini Trust application
The leading cryptocurrency asset manager initially filed the form on Tuesday.
Earlier today, Nasdaq also submitted its updated Form 19b-4 for the Ethereum ETF product offered by financial giant BlackRock.
As reported by U.Today, the U.S. Securities and Exchange Commission’s sudden and shocking U-turn on Ethereum ETFs has many seasoned analysts intrigued.
Bloomberg ETF experts initially believed the SEC would reject these products because there was very little engagement between the regulator and potential issuers. However, earlier this week, the chances of approval rose sharply due to intense speculation about the SEC’s about-face. The SEC reportedly asked exchanges to update Forms 19b-4 earlier this week, seemingly confirming the rumors.
Besides Grayscale and BlackRock, other potential issuers including Fidelity, VanEck and Franklin Templeton have also updated their respective documents.
According to Fox Business reporter Charles Gasparino, the likely approval of Ethereum ETFs would likely mark one of the biggest regulatory 180s in recent SEC history.
Far from launch?
Due to the SEC’s reversal, the price of Ethereum saw a massive surge, increasing by over 20% in a single day.
James Seyffart, a leading ETF analyst, warned The cryptocurrency community believes that Ethereum ETFs may still be “far away” from their highly anticipated launch in the United States.
On Tuesday, prominent trader John Bollinger said he triggered his position on Ethereum, adding that the move was too broad.
About the Author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to this booming industry, from price analysis to blockchain disruption. Alex has authored over 1,000 articles for U.Today, CryptoComes and other fintech media. He is particularly interested in regulatory trends across the world that are shaping the future of digital assets. He can be contacted at alex.dovbnya@u.today.