{"id":14989,"date":"2024-03-09T10:35:10","date_gmt":"2024-03-09T10:35:10","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=14989"},"modified":"2024-03-09T08:49:36","modified_gmt":"2024-03-09T08:49:36","slug":"grayscale-and-coinbase-discussed-with-sec-for-ether-etf","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/grayscale-and-coinbase-discussed-with-sec-for-ether-etf\/","title":{"rendered":"Grayscale and Coinbase Discussed with SEC for Ether ETF!"},"content":{"rendered":"

Grayscale and Coinbase achieved progress in their plans to set up a spot exchange investment fund by holding another meeting with federal regulators earlier this week.<\/p>\n

The companies tried to alleviate concerns about the security of the spot ether ETF, which will expose investors to the price movements of the second-largest cryptocurrency by market value, in their presentation to the SEC<\/strong> on Wednesday.<\/p>\n

Grayscale<\/em>, in the process of converting its unsuccessful Ethereum, trusts the ETF, in a move that could further expand investors’ access to crypto-based investment options.<\/p>\n

A presentation by Coinbase during the meeting was published on the SEC<\/strong>‘s website.<\/p>\n

The talks took place two months after the SEC<\/strong> approved over a dozen spot bitcoin ETFs, which helped many cryptocurrencies’ prices rise to record levels and intensified investor demand for crypto investment products.<\/p>\n

Both Bitcoin and Ethereum prices reached record levels on Friday, surpassing $70,000 and $4,000, respectively.<\/p>\n

Coinbase Wants SEC to Approve Its Spot ETH ETF<\/span><\/h2>\n

Coinbase called on the Securities and Exchange Commission (SEC<\/strong>) to list Graytoned Ethereum. The company needs to gain trust for trading, according to Chief Legal Officer Paul Grewal.<\/p>\n

In a statement made by Grewal, he announced that Coinbase had responded to the SEC<\/strong>‘s request for comment. He stated that Coinbase provided the \u201clegal, technical and economic justification\u201d required for approval.<\/p>\n

He also said, “Our letter puts forth something that anyone even slightly interested in the subject already knows: ETH is not a security. In fact, before and after the Merger, the SEC<\/strong>, CFTC and the market have not treated ETH <\/a>as a security. It’s not security but a commodity.”<\/p>\n

Analysts predict that the SEC<\/strong> will approve spot Ethereum ETFs as early as May this year. Last October, Grayscale and NYSE Arca applied to convert the Grayscale Ethereum Trust into a spot ether ETF.<\/p>\n

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You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram<\/strong><\/a>,\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a> channels for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Grayscale and Coinbase achieved progress in their plans to set up a spot exchange investment fund by holding another meeting with federal regulators earlier this week. The companies tried to alleviate concerns about the security of the spot ether ETF, which will expose investors to the price movements of the second-largest cryptocurrency by market value,<\/p>\n","protected":false},"author":1,"featured_media":14988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,2],"tags":[4839,39],"class_list":["post-14989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","category-news","tag-grayscale-and-coinbase","tag-sec"],"yoast_head":"\nGrayscale and Coinbase Discussed with SEC for Ether ETF! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Grayscale and Coinbase achieved progress in their plans to set up a spot exchange investment fund by holding another meeting.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/grayscale-and-coinbase-discussed-with-sec-for-ether-etf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grayscale and Coinbase Discussed with SEC for Ether ETF! 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