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The Ethereum Trust for Grayscale filed to become a reporting company for the US securities commission

 
The Ethereum Trust for Grayscale filed to become a reporting company for the US securities commission
Ethereum / Breaking News / Crypto Market
  • Grayscale Investments has publicly filed with the United States securities commission in regards to its Ethereum trust to become a company reporting to the commission.
  • This new development comes after the Grayscale bitcoin trust became a reporting company to the commission earlier this year in January.

One of the biggest institutions within the crypto space, Grayscale Investments has publicly filed with the United States securities and exchange commission in regards to its Ethereum trust in order to become a company reporting to the commission. This new development comes after the Grayscale bitcoin trust became a reporting company to the commission earlier this year in January.

The company is well known throughout the crypto space for being very bullish on the future of Cryptocurrency. Currently, the company holds more than $4.7 billion worth of the leading coin on behalf of its clients. On top of this, the companies Ethereum trust has just under $750 million worth of Ethereum.

Writing in an announcement earlier this week on the 6th of August, the company revealed that it had voluntarily filed for its trust to attain the status of a reporting company for the securities commission. Particularly, it sent a registration statement on form 10 with the commission.

Part of the statement says:

“This is a voluntary filing that, if it becomes effective, would designate the Trust as an SEC reporting company and register its shares pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended.”

If this application is successful, the trust will become the second platform within the industry to achieve the status of a digital currency investment vehicle and report to the United States commission.

Through this movement, the company hopes to bring in more institutional investors as most of these investors are sceptical of making investments in instruments that are not registered with the commission.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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