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Grayscale updates Ethereum ETF application! 🚀📈

Grayscale updates Ethereum ETF application! 🚀📈

Grayscale Submits Revised Form for Ethereum ETF Approval

Grayscale has taken a step towards launching an Exchange-Traded Fund (ETF) for Ethereum spot after successfully filing an amended Form 19b-4. The company’s Chief Legal Officer, Craig Salm, believes that investors should have access to Ethereum through an ETF.

Grayscale’s Initiative for an Ethereum ETF

The recent amendment to the application for an Ethereum spot ETF by Grayscale marks a significant development in the journey that began in October 2023. The Securities and Exchange Commission (SEC) initiated a 240-day review process for Ethereum, with a deadline set for April, indicating that a final decision is imminent.

Fidelity’s Enhanced ETF Application

In a parallel move, Fidelity has decided to include provisions for ETH staking in its ETF application for Ethereum spot. This strategic decision aims to introduce new investment opportunities to clients and attract institutional interest in staking-based cryptocurrencies. Despite ETH’s recent price decline of -18%, it remains valued at $3,284.

Hot Take: Grayscale’s Push for Ethereum ETF Approval

Grayscale’s revised application for an Ethereum spot ETF reflects the growing demand for investment opportunities in the crypto market. With Fidelity also embracing staking provisions in its ETF application, institutional interest in Ethereum is expected to rise. As the SEC approaches a final decision on these applications, the crypto community eagerly anticipates the approval of Ethereum ETFs to enhance accessibility and diversification in the digital asset space.

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Grayscale updates Ethereum ETF application! 🚀📈