As optimism around Ethereum Spot Exchange-Traded Funds (ETFs) continues to dwindle, Grayscale Investments, the world’s leading digital asset manager, has filed an S-3 Registration Statement for its Ethereum Trust, marking a major advancement in its Ether investment services.

Popular Fox Business journalist Eleanor Terrett reported that the company filed the S-3 registration statement with the United States Securities and Exchange Commission (SEC), requesting to convert its Ethereum Trust into a spot ETH ETF.

Grayscale’s Ethereum Trust product is already registered with the SEC, thus, it does not need to file an S-1 form like other ETH ETF issuers or applicants. With the recent filing, Grayscale has now submitted all the necessary paperwork for the regulatory watchdog to consider its ETH ETF application and provide a ruling. However, the document has not yet been made accessible to the general public.

The asset firm has also filed for an S-1 mini Ethereum ETF under the ticker ETH, similar to that of its Bitcoin mini-me ETF filed under the ticker BTC. In March, the asset manager applied to the SEC for approval to spin out a portion of GBTC shares in order to launch the new mini-me BTC ETF.

It is noteworthy that the company filed the S-3 form with the Commission under the Securities Act of 1933. The firm made the move after NYSE Arca filed Form 19b-4 for the Grayscale Ethereum Trust. With the approval of NYSE Arca’s application on form 19b-4 to list shares and the effectiveness of form S-3 to register the shares, Grayscale plans to list its ETH ETF on NYSE Arca under the ticker ETHE and issue shares continuously. These shares will be made available solely through a prospectus method.

By submitting the S-3 registration statement, Grayscale hopes to improve regulatory compliance and lucidity for its ETH Trust. As a result, it will provide prospective investors with more assurance and clarity when negotiating the intricacies of cryptocurrency investments.

This move demonstrates Grayscale’s proactive response to the rising demand from institutional and retail investors for Ethereum exposure, enhancing its stand as a leader in the digital asset market.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.