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.”
The post Grayscale Ethereum (ETH) Trust Is Now Officially an SEC-Reporting Company appeared first on CryptoPotato.
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