The Coinbase Team Urges SEC to Approve Grayscale’s Ethereum ETF Application
The Coinbase team is advocating for the approval of Grayscale’s application to launch a spot Ethereum (ETH) exchange-traded fund (ETF). In a call with the U.S. Securities and Exchange Commission (SEC), Coinbase’s chief lawyer, Paul Grewal, presented a “legal, technical, and economic justification” for allowing the launch of Grayscale’s Ethereum spot ETF.
“Ether’s Proof of Stake has demonstrably strong governance that exhibits robust characteristics across ownership concentration, consensus, liquidity, and governance, mitigating risks of fraud and manipulation.”
– Paul Grewal, Coinbase Chief Lawyer
Coinbase is committed to supporting innovation and fostering a transparent and secure financial ecosystem. The company actively engages in dialogue and researches regulatory solutions in the cryptocurrency space.
SEC Postpones Consideration of Grayscale’s Ethereum ETF Application
The SEC has postponed its decision on Grayscale’s Ethereum ETF application until March 10. The approval of a Bitcoin spot ETF was limited to only one cryptocurrency, according to Commission Chairman Gary Gensler. This delay also affects BlackRock’s similar bid for a spot crypto ETF.
Grayscale Expects Approval for Ethereum Spot ETF in Summer 2024
Grayscale’s head of legal, Craig Salm, anticipates that the SEC will likely approve an ETF based on the Ethereum spot price by the summer of 2024.
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