The large cryptocurrency asset manager Grayscale Investments has filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) for its Grayscale Ethereum Trust.
Should the application be successful, the ETH Trust will be the second company product designated as a digital asset investment vehicle reporting to the SEC after the Grayscale Bitcoin Trust.
Grayscale ETH Trust Files For Form 10 With The SEC
Also known as the General Form for Registration of Securities, the Form 10 is a filing with the SEC, used to register a class of securities for potential trading on US-based exchanges. Companies with at least $10 million in total assets and 750 or more shareholders are required to file the form, but for organizations under these thresholds, submitting a Form 10 is voluntary.
According to the announcement from the digital asset management firm, Grayscale’s filing on behalf of the Grayscale Ethereum Trust is voluntary. Should the Registration Statement is approved, it would designate “the Trust as an SEC reporting company and register its shares pursuant to Section 12(g) of the Securities Exchange Act of 1934.”
A successful registration will also provide accredited investors who purchased shares in the Trust’s private placement with an earlier liquidity opportunity, as the statutory holding period of private placement shares would be reduced from 12 months to 6 months, under Rule 144 of the Securities Act of 1933.
The statement also highlighted that Grayscale publishes quarterly and annual reports regarding the Ethereum Trust and audited financial statements pursuant to the OTC Markets Alternative Reporting Standard (ARS). If the Registration Statement becomes effective, the company will begin filing these reports and financial statements as 10-Qs and 10-Ks with the SEC.
It’s worth noting that this is Grayscale’s second filing for Form 10 with the SEC. Last year, the company did the same for its Grayscale Bitcoin Trust, which was approved rather rapidly.
15% Growth In A Week
As reported earlier by CryptoPotato, the cryptocurrency investment platform outlined a significant increase in its assets under management, confirming the growth of institutional investors’ interest. The total amount has soared in a week from $4.8 billion to over $5.5 billion worth of digital assets.
The two most widely used company products, namely the Grayscale Bitcoin Trust and the Grayscale Ethereum Trust, are responsible for $4,5 billion and $750 million of the total amount.