Grayscale Files for Grayscale Ethereum Mini Trust ETF, SEC Delays Verdict on Ethereum ETFs, CoinShares Reports Capital Withdrawal from Crypto Funds

Grayscale Investments, the world’s largest cryptocurrency asset management firm, is making waves in the crypto world with its latest filing for a prospective spot Ether exchange-traded fund (ETF). The company recently filed for the Grayscale Ethereum Mini Trust, a spin-off from the Grayscale Ethereum Trust (ETHE), which aims to cater to longer-term investors and offer lower fees to shareholders.

If approved, the Grayscale Ethereum Mini Trust would be seeded with assets currently backing ETHE, and existing ETHE shareholders would receive ETH shares on a pro-rata basis to maintain their exposure to Ethereum. The proposed fund would trade under the ticker ETH on the NYSE Arca exchange, providing investors with a new way to gain exposure to the popular cryptocurrency.

The news comes amidst a flurry of activity in the crypto ETF space, with the SEC delaying decisions on spot Ether ETF applications from Grayscale, BlackRock, and Franklin Templeton until June 23. Analysts are eagerly awaiting May 23, the 240-day statutory deadline for the SEC to deliver a verdict on Ether ETF applications, which could be a make-or-break moment for applicants.

Meanwhile, CoinShares reports capital withdrawal from crypto funds, with spot Bitcoin ETFs experiencing heavy outflows last week. Despite this, BlackRock’s IBIT ETF managed to post a 69-consecutive-day streak of inflows leading up to the Bitcoin halving event, defying the overall downtrend in the market.

Overall, the crypto world is abuzz with excitement and anticipation as major players like Grayscale continue to push the boundaries of innovation in the industry. Stay tuned for more updates on the evolving landscape of cryptocurrency investments.