The Ethereum trust from Grayscale is now a reporting company for the SEC

Quick take

1 minute read

• It has just been reported early this week on the 12th of October that the Grayscale Ethereum trust has become an SEC (securities and exchange commission) reporting company.

• This comes after the approval of the registration statement on Form 10 filed with the SEC on behalf of the trust. 

It has just been reported early this week on the 12th of October that the Grayscale Ethereum trust has become an SEC (securities and exchange commission) reporting company.

This comes after the approval of the registration statement on Form 10 filed with the SEC on behalf of the trust. With this approval, the trust will now be able to file quarterly and yearly reports with the commission.

With this new arrangement, the statutory holding period of shares bought through the private placement of the trust will be reduced from 12 months to 6 months.

With Grayscale being one of the biggest investment platforms for cryptocurrency in the world, the company has grown from strength to strength to become a favourite for many people within the industry, investors and traders alike.

And furthermore, Ethereum is the second of the assets from Grayscale to become a reporting company for the SEC following its bitcoin trust being registered to this end earlier this year in January.

This is an exciting development for the company that has $6 billion worth of assets under management including some of the biggest cryptocurrencies in the space such as bitcoin. At the start of this month, the company bought an additional 17,000 bitcoins in order to increase its holdings in this asset.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.