The legal director of the asset manager Grayscale, Craig Salm, recently expressed his opinion on requests for exchange-traded funds (ETFs) in sight of Ethereum with the United States Securities and Exchange Commission (SEC), emphasizing its belief that products “should be approved” by the regulator.
Salm recently shared his suggestive belief that a perceived “lack of SEC involvement” does not necessarily mean it is a negative sign for Ethereum ETFs. “Recently there has been a lot of talk about #Ethereum spot ETFs. Personally, I am not deterred by this and believe ETFs should be approved. But now I want to talk about how I think the SEC’s “lack of involvement” should be viewed at this point.”
“In the last few months leading up to the approval of the Bitcoin ETF, Grayscale and others have received positive and constructive engagement from the SEC,” Salm stated, adding: “We have had thoughtful conversations and discussed the finer details of creation/redemption procedures, cash versus in. -type, APs, LPs, custody, etc.”
Grayscale's chief legal officer further highlighted that he agrees 100% with other community members on why spot Ethereum ETFs should be approved: “consistency with ETH futures ETFs, regulation of ETH futures as commodity futures (vs. . bond futures), high correlation between futures and spot.”
1/ Recently, there's been a lot of chatter about spot #Ethereum ETFs. I personally am not deterred by it and believe the ETFs should be approved. But right now I want to talk about how I think perceived "lack of SEC engagement" should be viewed at this point:
—Craig Salm (@CraigSalm) March 25, 2024
Ethereum ETF: Grayscale follows Fidelity's example and will add staking to its proposal
Asset manager Grayscale Investments has plans to add the staking your proposed spot Ethereum exchange-traded fund (ETF). The company filed a preliminary proxy statement on March 19.
The investment giant presented a proposal to investors in a four-item “consent solicitation statement” that includes a creation and redemption process involving cash and the ability to stake Ethereum through the trust.
At the time of publication, the ethereum price it was quoted at US$3.633,19 with an increase of 4.8% in the last 24 hours.
