Grayscale has just filed to convert their $5 billion Ethereum private trust, $ETHE, into a spot ETF.
This is HUGE for Ethereum, and here’s why:
We’re already aware of the profound impact an ETF has had on the Bitcoin market, but Ethereum’s market cap stands at only $200 billion.
It’s likely that the SEC won’t deny this spot ETF, especially since a very similar 2x futures ETF was approved just a week ago.
VanEck just launched Ethereum Futures ETF.
Grayscale filed to convert the Ethereum Trust into a spot ETF.
Most likely BlackRock is coming next with an Ethereum Spot ETF application.