Grayscale Ethereum Trust filed to become an SEC reporting company.
Earlier today on 6th August, Amidst the Ethereum [ETH] Bull Run, Grayscale Investments voluntarily decided to form its Ethereum Trust an SEC reporting company. The company’s best known investment product may be a Bitcoin Trust that holds around 400k Bitcoin [BTC]. Moreover, its Ethereum Trust presently has 1.9 Mln ETH in its possession. Together, this represents $746 Mln in assets under management. Like other Grayscales product, Coinbase is acting as a custodian.
Grayscale revealed that the filing is under review. If approved, it might be the 2nd cryptocurrency investment vehicle to achieve such status:
“The filing is subject to SEC review; if the Registration Statement becomes effective, it might designate Grayscale Ethereum Trust as the 2nd digital currency investment vehicle to achieve 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 favourable view to potential institutional investors.