Grayscale Investments has just updated its registration statement for its Ethereum ETF to explain how it will treat Ether and how much Ether it owns.
The filing was submitted yesterday, shortly after BlackRock made similar updates and the SEC approved 19b-4 forms for eight Ethereum exchange-traded funds.
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The updated filing states that as of May 28, 2024, approximately 0.94552590 Ether is required to create a basket of 100 shares, and 94.552590 Ether for a basket of 10,000 shares.
Further registration statements are expected to be received by the SEC, and trading of the ETFs is expected to commence once they become effective.
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Grayscale has been working to convert its Ethereum trust into a spot Ether ETF since October 2023.