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Grayscale Updates Filing for Ethereum Mini Trust

Grayscale Updates Filing for Ethereum Mini Trust WikiBit 2024-05-23 04:42

Grayscale has filed an amendment version of its 19b-4 form for its Ethereum Mini Trust application T

Grayscale has filed an amendment version of its 19b-4 form for its Ethereum Mini Trust application

The leading cryptocurrency asset manager initially filed the form on Tuesday.

Earlier today, Nasdaq also submitted its updated 19b-4 form for the Ethereum ETF product proposed by financial behemoth BlackRock.

As reported by U.Today, the sudden and shocking U-turn of the U.S. Securities and Exchange Commission on Ethereum ETFs puzzled a lot of seasoned analysts.

Bloomberg ETF experts initially believed that the SEC would reject these products since there was very little engagement between the regulator and the potential issuers. However, earlier this week, approval odds surged sharply higher due to intense speculation about the SEC's about-face. The SEC reportedly asked exchanges to update 19b-4 forms earlier this week, seemingly confirming the rumors.

Apart from Grayscale and BlackRock, other potential issuers, including Fidelity, VanEck, and Franklin Templeton have also updated their respective filings.

According to Fox Business reporter Charles Gasparino, the likely approval of Ethereum ETFs would likely mark one of the biggest regulatory 180s in the recent history of the SEC.

A long way from launch?

Due to the SEC's U-turn, the price of Ethereum experienced a massive spike, surging by more than 20% on a single day.

James Seyffart, a leading ETF analyst, has cautioned the cryptocurrency community that Ethereum ETFs might still be a “long way” from their much-anticipated launch in the US.

On Tuesday, prominent trader John Bollinger stated that he had tripped his Ethereum position, adding that the move was overextended.

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