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On August 6, Grayscale Ethereum Trust filed to become an SEC reporting company.
Amidst the Ethereum (ETH) bull run, Grayscale Investments voluntarily decided to make its Ethereum Trust an SEC reporting company. The company’s best known investment product is a Bitcoin Trust that holds around 400,000 Bitcoin (BTC), worth nearly $4,744,800,000 as of press time. Additionally, its Ethereum Trust currently has 1.9 million ETH in its possession, valued at approximately $746 million. As with other Grayscale products, Coinbase is acting as a custodian.
Grayscale noted that the filing is under review. If approved, it would be the second cryptocurrency investment vehicle to attain such status:
“The filing is subject to SEC review; if the Registration Statement becomes effective, it would designate Grayscale Ethereum Trust as the second digital currency investment vehicle to attain the status of a reporting company by the SEC, following Grayscale® Bitcoin Trust as the first.”
This would likely present the Trust in a more favorable view to potential institutional investors.
This story is developing and will be updated.
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Michael Kapilkov