manager Grayscale Investments confirmed its Trust (ETHE) has gained regulatory approval from the Financial Industry Regulatory Authority (FINRA) for retail . The was announced in a issued on May 23.
Set to become the first publicly-quoted security based on (ETH), ETHE received the go ahead from FINRA to trade on over-the-counter () markets.
The product will follow Grayscale’s equivalent () and Classic () Trusts, which are already publicly quoted.
The launch remains subject to full compatibility with the Depository Trust Company (DTC), the world’s largest securities depository with more than $35 trillion of securities deposited.
“There will be no volume in the Shares’ public quotation until the Shares are DTC eligible, which ETHE is expected to receive soon,” the press release stated. It continued:
“Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for Shares of ETHE on the OTC Markets website once commences.”
The step comes a week after Grayscale that its Investment Trust () took the lion’s share of investments among clients in Q1 this year, as April sparked a sudden bull run in the largest .
The company, begun by Digital Currency Group in 2013, operates a total of ten products, including those tied to (LTC), () and zcash ().
Published at Thu, 23 May 2019 18:04:01 +0000
