UPDATED: March 8, 2024, 2:05PM EST
Grayscale and Coinbase held another round of talks with federal regulators this week, making headway in the companies’ plans to launch an ether spot exchange-traded fund.
The companies on Wednesday attempted to assuage the Securities and Exchange Commission (SEC) concerns about the safety of a spot ether ETF, which would expose investors to the price movements of the second-largest cryptocurrency by market cap. Grayscale is in the process of converting its failed Ethereum Trust into an ETF, a move that could further widen investors’ access to crypto-based investment options.
A presentation by Coinbase given at the meeting was posted on the SEC’s website.
Both bitcoin and ether prices hit record highs on Friday, surpassing $70,000 and $4,000 respectively.
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