Grayscale Investments® Files S-3 Registration Statement for Grayscale Ethereum Trust
April 23 2024 - 3:00PM
Grayscale Investments®, the world’s largest crypto asset manager,
today announced it filed a registration statement on Form S-3 (the
“Form S-3”) with the U.S. Securities and Exchange Commission
(“SEC”) to register shares of Grayscale Ethereum Trust (OTCQX:
ETHE) under the Securities Act of 1933, as amended (the "Securities
Act").
Following NYSE Arca's filing of Form 19b-4 for Grayscale
Ethereum Trust, Grayscale filed the Form S-3, another key filing
requiring regulatory approval in the firm’s effort to uplist ETHE
to NYSE Arca as a spot Ethereum ETF*. Grayscale Ethereum Trust
intends to list the shares on NYSE Arca under the ticker ETHE, and
issue shares on an ongoing basis upon approval of NYSE Arca’s
application on Form 19b-4 to list the shares and effectiveness of
the Form S-3 to register the shares.
The offering will be made only by means of a prospectus. A copy
of the prospectus, when available, may be obtained by email from
Grayscale Investments by emailing info@grayscale.com.
A registration statement relating to the shares has been filed
with the SEC, but has not yet been declared effective. The shares
may not be sold, nor may offers to buy be accepted, prior to the
time the registration statement becomes effective. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy the shares, nor shall there be any sale of the
shares in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
*Grayscale uses the generic term “ETF” to refer to
exchange-traded investment vehicles, including those that are
required to register under the Investment Company Act of 1940, as
amended (the “40 Act”), as well as other exchange-traded products
which are not subject to the registration of the ‘40 Act. The Trust
is not registered under the 1940 Act and is not subject to
regulation under the 1940 Act, unlike most mutual funds or
ETFs.
Grayscale Investments, LLC (“Grayscale”) is the sponsor of
Grayscale Ethereum Trust (the “Trust”) . Grayscale is not
registered as an investment adviser under the Investment Advisers
Act of 1940 and the Trust is not registered under the Investment
Company Act of 1940. The Trust is subject to the rules and
regulations of the Securities Act of 1933.
Investing involves risk, including possible loss of principal.
An investment in the Trust is subject to a high degree of risk and
heightened volatility. Digital assets are not suitable for an
investor that cannot afford the loss of the entire investment.
The Trust holds Ethereum; however, an investment in the Trust is
not a direct investment in Ethereum. As a non-diversified and
single industry fund, the value of the shares may fluctuate more
than shares invested in a broader range of industries.
There is no guarantee that a market for the shares will be
available which will adversely impact the liquidity of the Trust.
The value of the Trust relate directly to the value of the
underlying digital asset, the value of which may be highly volatile
and subject to fluctuations due to a number of factors
Smart contracts are a new technology and ongoing development may
magnify initial problems, cause volatility on the networks that use
smart contracts and reduce interest in them, which could have an
adverse impact on the value of Ethereum.
About Grayscale Investments®Grayscale enables
investors to access the digital economy through a family of
future-forward investment products. Founded in 2013, Grayscale has
a proven track record and deep expertise as the world’s largest
crypto asset manager. Investors, advisors, and allocators turn to
Grayscale for single asset, diversified, and thematic exposure.
Media ContactJennifer
Rosenthalpress@grayscale.com
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