After Bitcoin: Grayscale Files to Convert Another Major Trust into ETF

Grayscale intends to convert its Ethereum Trust into a spot ETF, which could create massive gains for the fund’s current investors.

Grayscale, the company behind the world’s largest crypto funds, has now moved to convert its Grayscale Ethereum Trust into a spot Ethereum ETF.shared by Grayscale CEO Michael Sonnhenshein, the conversion to an ETF would mark the “final stage” of the Ethereum Trust’s planned lifecycle since launching in March 2019.

An ETF – or “exchange-traded fund” – is a stock index that tracks the price of an underlying asset or basket of assets, such as cryptocurrency. A spot Ethereum ETF would market sell shares to investors that were each backed by a fixed amount of ETH held by the fund or a partnering custodian. The share discount creates a juicy opportunity for investors: if the fund’s conversion to an ETF is approved, share value will be restored to parity with the fund’s assets, producing major profits for existing holders.

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