A recent report has informed that Grayscale Ethereum Trust might soon become a reporting company with the United States Securities and Exchange Commission (SEC), as the company has filed a Registration Statement on Form 10 with the regulator. Last year, Grayscale made a similar move for its Bitcoin Trust, which was later approved by the SEC earlier in 2020.
Grayscale Ehereum seeks an SEC reporting status
On Thursday, the digit asset investment company announced that it voluntarily filed the Registration Statement on Form 10 on behalf of the Grayscale Ethereum Trust. While the recent filing awaits SEC approval, it will become the second investment vehicle to obtain an SEC reporting status, that is, if the regulator approves it.
Additionally, accredited investors will be opportune to earlier liquidity if the purchased shares in the Grayscale Ethereum Trust’s private placement, according to the announcement. This is will possible because the statutory holding period of the private placement will be lower to six month period instead of the usual 12 months, once the filing is approved by the US SEC.
If Grayscale Ethereum Trust becomes an SEC reporting company, it will have to file market reports and financial statements as 10-Qs and 10-Ks with the regulator. Meanwhile, the Trust will do so alongside its current reports on Form 8-K in compliance with the Exchange Act. Currently, Grayscale Ethereum Trust files quarterly and annual reports, including audited financial statements in accordance with the OTC Markets Alternative Reporting Standard (ARS).
Grayscale’s first SEC reporting company
Founded in 2013, Grayscale has grown to become the world’s largest digital currency asset manager. Its investment vehicles enable most institutional investors to gain exposure in different digital currencies such as Bitcoin (BTC), Ether (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Steller and so on.
In November, Grayscale filed with the SEC to approve its Bitcoin Trust as a reporting company. The SEC approved the Trust on January 21, thereby making Grayscale Bitcoin Trust the first SEC reporting company.