Bitcoin, Blockchain & Cryptocurrency News

Categories: Regulation

Grayscale Investments Files Form 10 with US SEC for Its Ethereum Trust

The Grayscale Ethereum (ETH) Trust has filed to become a US Securities and Exchange Commission (SEC) firm. This, according to a recent filing made with the US financial regulator.

Grayscale ETH Trust Wants to Become an SEC Reporting Company

Grayscale Investment, the world’s largest crypto asset fund manager recently filed with the US financial watchdog to make its Ethereum Trust an SEC reporting firm.

Should the SEC approve the firm’s application, its Ethereum Trust will be subject to the requirements of Regulation 13A under the Exchange Act, thereby requiring it to file annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K.

The firm noted that its application is currently under review and following the desired regulatory green light from the SEC, its Ethereum Trust would become just the second digital currency investment vehicle to be dubbed an SEC reporting company.

“The filing is subject to SEC review; if the Registration Statement becomes effective, it would designate Grayscale Ethereum Trust as the second digital currency investment vehicle to attain the status of a reporting company by the SEC, following Grayscale® Bitcoin Trust as the first.”

Notably, by becoming an SEC reporting firm, Grayscale would hope to be seen in a more positive light in the eyes of institutional investors that have, until now, been on the fence regarding getting their feet wet in crypto assets.

It’s worthy of note that not too long ago, the US Financial Industry Regulatory Authority (FINRA) had approved Grayscale to launch its Bitcoin Cash (BCH) Trust and Litecoin (LTC) Trust.

Grayscale Investments Reports Booming Demand for Crypto

Despite the infamous price crash caused by the COVID-19 pandemic earlier this year, the crypto market has steadily recovered with many now speculating if it is the start of another long-awaited bull season.

Against that backdrop, the figures reported by Grayscale Investments throughout the year paint an optimistic picture of the short and medium-term future of the crypto market.

Earlier today, Grayscale tweeted that it had $5.5 billion worth of total assets under management with Grayscale Bitcoin Trust, and Grayscale Ethereum Trust accounting for $4.536 million and $746 million of it, respectively.

Published by
Aisshwarya Tiwari

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