Grayscale Ethereum Trust Files Form 10 To Become SEC Reporting Company
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After Grayscale Bitcoin Trust became an SEC reporting company back in January, the Grayscale Ethereum Trust followed the footsteps of the Bitcoin Trust and filed to become an SEC reporting company. 

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The United States Securities and Exchange Commission [SEC] has been an essential part of the crypto ecosystem. Even though the crypto industry upholds decentralization and isn’t really governed by a specific entity, several members of the community have realized the importance of regulations. While many prominent crypto platforms have extended support to the SEC,  Grayscale is the latest one to join the bandwagon.

Barry Silbert, the Founder, and CEO of Digital Currency Group [DCG] took to Twitter to announce that the Grayscale Ethereum Trust had filed to become a reporting company for the SEC. Describing the latest move a milestone for the company, Silbert tweeted,

A Milestone for Grayscale Ethereum Trust by @Grayscale https://t.co/fQqTkXjPoY

— Barry Silbert (@barrysilbert) August 6, 2020

Previously, the Grayscale Bitcoin Trust had applied to become an SEC reporting company, which would further make Grayscale Ethereum Trust, the second platform to do so. The platform’s latest move was fueled by the funds brought in by ETH into Grayscale. As per the platform’s blog post, the quarterly inflows that the Ethereum Trust brought into Grayscale were $135.2 million which was about 15 percent of the total inflows during the last quarter.

Grayscale revealed that it had publicly filed a Registration Statement on Form 10 with the SEC. The post further read,

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“This is a voluntary filing that, if it becomes effective, would designate the Trust as an SEC reporting company and register its shares pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended.”

Almost every platform in the crypto-verse comes under the purview and scrutiny of the SEC, despite this, several entities have not registered with the SEC. The Grayscale Ethereum Trust aims to lure in more institutional investors with its latest move.

Soon after the latest filing is approved, the Grayscale Ethereum Trust would be required to file its quarterly as well as annual reports and audited financial statements with the SEC, along with other essential reports.

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Grayscale Ethereum Trust Files Form 10 To Become SEC Reporting Company
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After Grayscale Bitcoin Trust became an SEC reporting company back in January, the Grayscale Ethereum Trust followed the footsteps of the Bitcoin Trust and filed to become an SEC reporting company. 
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Author: Sahana Kiran

Sahana Kiran is a graduate in Political Science, Economics and Journalism. She is a full-time crypto writer at CoinGape and takes a keen interest in cryptocurrencies, especially Ethereum and Bitcoin. Even though she's not a HODLER yet, she has eyes on Bitcoin.


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