Grayscale, the world’s largest crypto asset manager, has filed with the SEC to convert its Grayscale Ethereum Trust (ETHE) into an Ethereum exchange-traded fund (ETF). The filing was submitted by the New York Stock Exchange (NYSE) on behalf of Grayscale. This move follows the SEC’s approval of multiple Ethereum futures ETF products last week.ETHE is currently structured as a trust and trades on the public market. It launched in 2019 and has $5 billion in assets under management, making it the biggest Ether investment product in the world. Grayscale CEO Michael Sonnenshein said in a statement that this move is an important step in bringing Ethereum further into the U.S. regulatory perimeter.The SEC has yet to approve a spot crypto ETF in the US market, citing concerns about market manipulation and illicit activities. It remains unclear if or when the regulatory agency will give the green light, but the growth of the crypto futures market is seen as a positive sign. ETHE is up 2.5% over the last 24 hours, according to Yahoo! Finance.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	positive
Relevance Score	8
People	Michael Sonnenshein, Grayscale CEO, NYSE, SEC
Companies	New York Stock Exchange, Securities and Exchange Commission, Ethereum, Yahoo! Finance, Grayscale
Currencies	Ethereum, Bitcoin
Securities	None