The digital currency asset manager Grayscale told investors on Thursday that the firm has publicly filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) for the company’s Ethereum Trust.
The recent filing is voluntary and if the SEC approves the registration, the Ethereum Trust will be the second crypto asset investment vehicle to obtain the status of a reporting company by the SEC.
Established in 2013 by Digital Currency Group, Grayscale Investments has been around for quite some time now. The firm manages a number of investment vehicles that allow investors to gain exposure to crypto assets like bitcoin, bitcoin cash, ether, horizen, XRP, zcash, ethereum classic, litecoin, and stellar.
In September 2013, Grayscale introduced the Bitcoin Investment Trust which originally was only available to accredited investors. Then the trust got the Financial Industry Regulatory Authority’s (FINRA) approval and Grayscale was allowed to offer shares publicly.
Then on January 21, 2020, the Bitcoin Trust had its shares registered with the SEC and it was the first crypto-based trust to obtain a reporting status from the SEC. On Thursday, Grayscale told investors that it was attempting to get the Ethereum Trust established with the Commission as well.
“If the Registration Statement becomes effective, it would designate Grayscale Ethereum Trust as the second digital currency investment vehicle to attain the status of a reporting company by the SEC, following Grayscale Bitcoin Trust as the first,” Grayscale noted in an investor’s email. Grayscale added:
Furthermore, if the Registration Statement becomes effective, accredited investors who purchased shares in Grayscale Ethereum Trust’s private placement would have an earlier liquidity opportunity, as the statutory holding period would be reduced from twelve months to six months under Rule 144 of the Securities Act of 1933.
In an announcement post on Medium, Grayscale said that Q2 2020…