Grayscale Investments in conjunction with NYSE Arca has filed for approval from the U.S. Securities and Exchange Commission (SEC) to convert the Grayscale Ethereum Trust (ETHE) to a spot ethereum exchange-traded fund (ETF). Grayscale's Ethereum trust is the largest ether investment product in the world, with almost $5 billion in assets under management. "At Grayscale, our unwavering commitment is to offer investors transparent and regulated access to crypto through product structures that are familiar," said Grayscale CEO Michael Sonnenshein in a statement. "As we file to convert ETHE to an ETF, the natural next step in the product's evolution, we recognize this as an important moment to bring Ethereum even further into the U.S. regulatory perimeter."
Former crypto boss Sam Bankman-Fried wants to stop the government from calling multiple witnesses, including company investors and a Ukrainian customer left bereft by the collapse of his FTX exchange, according to court filings made just hours before his trial is due to begin. Bankman-Fried, who has pleaded not guilty to multiple counts of fraud after FTX filed for bankruptcy in November, doesn't want former company insiders testifying about the meaning of supposedly "coded" expressions used as part of an alleged conspiracy to misuse customer funds. While prosecutors at the U.S. Department of Justice want former customers and investors to testify about how they understood FTX would safeguard their assets, Bankman-Fried's lawyer Mark Cohen said in a filing made public Tuesday that the request was "premature," and would prompt members of the jury to conclusions they should draw for themselves.
EmoticonEmoticon