Grayscale, Coinbase and the U.S. SEC are negotiating to convert the Ethereum Trust Fund into an Ethereum Spot ETF

According to BlockBeats news, on March 10, Cointelegraph reported that Grayscale and Coinbase recently met with U.S. SEC officials to discuss rule changes for the launch of Ethereum spot exchange-traded funds (ETFs). Grayscale hopes to convert its Ethereum Trust, which tracks the market price of ethereum, into an ETF, similar to how its Bitcoin Trust converted into an ETF in January. The meeting, held on March 6, following the end of the comment period for the proposal, discussed concerns about possible market manipulation if the fund was approved. According to a presentation shared by the SEC, Coinbase said the same rationales that led to the approval of a Bitcoin ETF should be applied to Ethereum because the token has “mechanisms that significantly reduce ETH’s vulnerability to fraud and manipulation.”