Coinbase Pleas with SEC to Greenlight Grayscale’s Ethereum ETF
Press Release

Coinbase Pleas with SEC to Greenlight Grayscale’s Ethereum ETF

-Coinbase urges SEC to approve Grayscale’s Ethereum ETF, promoting financial inclusion.

In an impassioned appeal, Coinbase has called upon the Securities and Exchange Commission (SEC) to approve Grayscale Investments’ application for an Ethereum (ETH) exchange-traded fund (ETF) tied to the spot price. Through converting Grayscale’s existing Ethereum Trust into such an instrument, Coinbase’s chief legal officer Paul Grewal contends this ETF would bolster financial inclusion and innovation.

Sharing its stance as part of the SEC’s public commentary period, Coinbase submitted copious legal, technical, and economic justification advocating for Grayscale’s ETF. Grewal emphasized Coinbase’s commitment to advancing an equitable, transparent, and secure financial ecosystem underpinning cryptocurrencies.

This appeal follows the SEC postponing its ruling on Grayscale’s ETF until March 10, with Chairman Gary Gensler hesitant to approve anything beyond Bitcoin. Simultaneously, BlackRock’s spot crypto ETF ambitions were also delayed.

Despite the setback, Grayscale Head of Legal Craig Salm projects the SEC will likely greenlight an Ethereum spot price ETF in 2024. Until then, Coinbase pledges to continue engaging regulators to research prudent crypto policy solutions. Its impassioned support of Grayscale seeks to expedite this financial innovation.

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