The post Grayscale Ethereum Mini Trust Approved With 0.25%% Asset Management Fee appeared on BitcoinEthereumNews.com.

Key Points: The SEC approved two spot Ethereum ETFs, the Grayscale Ethereum Mini Trust, and the ProShares Ethereum ETF, for listing on the NYSE Arca platform. Grayscale aims for full regulatory approval and plans to seed the Ethereum Mini Trust with over $1 billion in assets. The SEC’s approval includes multiple issuers, with at least three expected to list spot Ether ETFs by July 23. The United States Securities and Exchange Commission (SEC) has approved two spot Ethereum exchange-traded funds (ETFs) for listing on the New York Stock Exchange’s Arca electronic trading platform. Read more: Grayscale Decentralized AI Fund Unveils Investments In Top AI Blockchains Grayscale Ethereum Mini Trust Plans Major Launch with Over $1 Billion in Assets The approved ETFs, as of July 17, are the Grayscale Ethereum Mini Trust and the ProShares Ethereum ETF. Grayscale, a well-known crypto investment company, expressed optimism about the approval. The firm has been working closely with the SEC and plans to continue these efforts to achieve full regulatory approval for its US spot Ethereum ETPs. The Grayscale Ethereum Mini Trust is one of two spot Ethereum ETFs that Grayscale is preparing to list. In May, the SEC approved Grayscale’s proposal to convert its legacy Grayscale Ethereum Trust (ETHE) into an ETF. The SEC’s unexpected approval in May also included proposals from other asset managers to launch spot Ethereum ETFs. Grayscale’s initial plan was to convert its longstanding Ethereum Trust into a spot ETF, a fund that currently operates like a closed-end fund, making it harder to redeem shares. The new Grayscale Ethereum Mini Trust will be seeded with 10% of ETHE’s assets, providing over $1 billion in liquidity based on ETHE’s current assets under management. Multiple Issuers Set to List Ether ETFs by July 23 Grayscale announced that the Ethereum Mini Trust…

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Filed under: News - @ July 18, 2024 7:28 am