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- The leading digital currency asset management company Grayscale Investments announced that its Ethereum Trust will report directly to the US Securities and Exchange Commission (SEC).
- Grayscale filed a Form 10 with the SEC a few months ago on behalf of the Ethereum Trust to become the second company product designated as a digital currency investment vehicle reporting to the Commission. The other product is the Grayscale Bitcoin Trust.
- The announcement from today reads that following the Ethereum Trust approval by the SEC, its shares are now registered under Section 12(g) of the Securities Exchange Act of 1934.
- Reporting to the Commission enables accredited investors who own or purchase shares from the Ethereum Trust’s private placement to take advantage of enhanced liquidity. This is a result of the reduced statutory holding period from 12 to 6 months.
- The Ethereum Trust will have to file its quarterly and annual reports, including financial statements, on Form 10-Qs, and 10-Ks with the Commission. This comes in addition to the current reports on Form 8-K and complying with all other obligations under the Exchange Act.
- The announcement clarified that “this voluntary filing for Form 10 should not be confused as an effort to classify Grayscale Ethereum Trust as an exchange-traded fund (ETF). The structure of the Trust will not change, and it will continue to not operate a redemption program nor trade on a national securities exchange.”
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