Summary
Coinbase met with the SEC to discuss Grayscale’s proposed spot Ethereum ETF. Grayscale applied to convert its Ethereum Trust into an ETF, similar to Bitcoin ETFs already approved. Coinbase highlighted market manipulation concerns and stated that ETH markets are resilient. Standard Chartered expects ETH ETF approval by May, with ETH hitting $4,000 recently.
Key Points
1. Coinbase met with the Securities and Exchange Commission to discuss Grayscale’s proposed spot Ethereum exchange-traded fund.
2. Grayscale filed an application with the SEC to convert its Grayscale Ethereum Trust into a spot ETH ETF, which would provide investors with direct exposure to Ethereum’s price on a stock exchange.
3. Coinbase’s presentation highlighted potential market manipulation concerns and emphasized the resilience of Ethereum’s spot markets to fraud and manipulation, in comparison to Bitcoin.