SEC Greenlights Rule Changes for Grayscale's Ethereum Mini Trust, ProShares ETFs

IconCryptoNewsTerminal Staff17 Jul, 2024

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SEC Greenlights Rule Changes for Grayscale's Ethereum Mini Trust, ProShares ETFs

The U.S. Securities and Exchange Commission (SEC) has approved 19b-4 rule changes for Grayscale's Ethereum Mini Trust (ticker ETH) and the ProShares Ethereum ETF. Bloomberg ETF analyst James Seyffart tweeted the news saying: “The SEC has approved the 19b-4 (a rule change) for Grayscale Ethereum Mini Trust (ticker ETH) and ProShares Ethereum ETF. The approval means both products could launch as soon as tomorrow alongside other ETFs. Grayscale, the world's largest digital currency asset manager, has been pushing for the approval of a spot Bitcoin ETF for years. The company has faced repeated rejections from the SEC, which has cited concerns about market manipulation and volatility. However, the approval of these rule changes for the Ethereum Mini Trust and the ProShares Ethereum ETF is a sign that the SEC may be warming up to the idea of approving spot ETFs for other cryptocurrencies.

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