Ethereum Grayscale Trust Receives SEC Reportable Company Status
Asset manager Grayscale Investments today confirmed the registration of his Ethereum trust as a company accountable to the US Securities and Exchange Commission (SEC). This is the second cryptocurrency trust registered as such with the SEC. Grayscale GBTC Bitcoin Trust became the first at the beginning of this year.
As Grayscale explains in a press release, by registering an Ethereum trust with the SEC, accredited investors purchasing its shares as a private placement will be able to access liquidity earlier, as the minimum holding time requirement for such shares for them is reduced from 12 months to 6 months..
In addition, the trust will now be required to submit quarterly and annual reports to the SEC in accordance with the prescribed forms, as well as follow all other requirements in accordance with the law on trading in securities.
“Voluntary registration should not be considered an attempt to classify the Ethereum Grayscale Trust as an Exchange Traded Fund (ETF). The structure of the trust will not change. Also, it will not be available on national stock exchanges, ”Grayscale notes..
“We are seeing interest from investors who have become more inclined towards digital currencies thanks to access to bitcoin and are now looking for additional ways to diversify within this asset class,” said Grayscale Director Michael Sonnenshine..
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