Crypto asset manager Grayscale has filed for its Ethereum Trust to become a Securities and Exchange Commission (SEC) reporting company, according to a Thursday announcement.
The firm has filed a Form 10 with the regulator registering its shares in hopes of adding another registered crypto investment vehicle to its offerings.
Grayscale’s Bitcoin Trust (GBTC) already has reporting company status, nabbing an approval earlier this year. While it wouldn’t change the structure of the existing product, it would require Grayscale file quarterly and annual reports with the SEC in addition to its current reporting requirements. Additionally, a reporting company seal of approval means investors would have an earlier liquidity opportunity as the holding period for shares cuts from a year to six months.
Grayscale gained FINRA approval to list shares of its Ethereum Trust (ETHE) in May of last year. The ETHE and GBTC products are both popular crypto products on the over-the-counter markets, with the Ethereum Trust trading over 400% premium to net asset value (NAV) from March to June. It’s steadily declined since June highs reaching 900%.
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