SEC approves Grayscale and ProShares spot Ethereum ETFs for trading on NYSE Arca. The issuers must still await signoff on the ETFs' S-1s.
The United States Securities and Exchange Commission approved two spot Ethereum exchange-traded funds — Grayscale Ethereum Mini Trust and ProShares Ethereum ETF — for listing on the New York Stock Exchange’s Arca electronic trading platform, according to a July 17
The approval of the so-called Form 19b-4 filing authorizes NYSE to facilitate trading of the funds. However, the issuers must still stand by for final comments on the ETFs’ respective S-1 filings before the spot products can actually commence with listing. “Grayscale is excited to share that the has approved Grayscale Ethereum Mini Trust’s Form 19b-4,” a Grayscale spokesperson said in a statement. “The Grayscale team continues to engage constructively with SEC staff, as we seek full regulatory approval for US spot Ethereum ETPs.”
Grayscale Ethereum Mini Trust is one of two spot Ethereum ETFs that the crypto investment manager is preparing to list. In May, Grayscale received SEC approval after filing a Form 19b-4 to convert its legacy spot ETH fund, Grayscale Ethereum Trust , into an exchange traded fund. On July 17, Grayscale announced plans to distribute shares of the new Mini Trust to holders of the ETHE fund. The Grayscale Ethereum Trust was first launched in 2017 and was among the first institutional investment vehicles for spot Ethereum.The SEC reportedly gave preliminary approval to at least three issuers to begin listing spot Ether ETFs as soon as July 23.
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