Grayscale's Spot ETH ETF Eyes July 23 NYSE Listing

IconCryptoNewsTerminal Staff19 Jul, 2024

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Grayscale's Spot ETH ETF Eyes July 23 NYSE Listing

Grayscale Investments, the world's largest digital currency asset manager, has announced plans to list its spot Ethereum (ETH) exchange-traded fund (ETF) on the New York Stock Exchange (NYSE) on or around July 23, 2023. The Grayscale Ethereum Trust (ETHE) will be the first physically backed ETH ETF to trade on a major U.S. stock exchange, offering investors exposure to the second-largest cryptocurrency by market capitalization. However, Grayscale cautioned in a filing with the U.S. Securities and Exchange Commission (SEC) that there is no assurance the ETF will commence trading on schedule. The listing and trading of the ETHE is subject to SEC approval, and the process could face delays or setbacks. The launch of a spot ETH ETF on a major exchange could be a significant milestone for the cryptocurrency industry. It would provide institutional and retail investors with a regulated and accessible way to gain exposure to ETH without having to purchase and store the cryptocurrency directly.

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