SEC Approves Grayscale、Proshares Ethereum Spot ETFs for NYSE Arca Listing

The SEC approves two spot Ethereum ETFs for NYSE Arca listing.

The ETFs are Grayscale Ethereum Mini Trust and ProShares Ethereum ETF.

Issuers await final comments on the S-1 filings before trading starts.

Historical performance of Grayscale Ethereum Trust (ETHE). Source: Grayscale

Grayscale's Statement

Grayscale confirms SEC's approval of its Ethereum Mini Trust's Form 19b-4.

The firm continues to seek full regulatory approval for US spot Ethereum ETPs.

Grayscale’s Plans

Grayscale plans to distribute shares of the Mini Trust to ETHE fund holders.

The Grayscale Ethereum Trust, launched in 2017, was an early institutional investment vehicle for spot Ethereum.

ProShares Ethereum ETF filed Form 19b-4 later than its peers.

It is not among the eight expected to list on July 23.

Analysts predict the new ETFs will start trading alongside other products next week.

Industry Impact

Last year, a judge sided with Grayscale in a lawsuit, influencing the SEC to approve spot Bitcoin ETFs.

The ruling has paved the way for Ethereum ETFs.