Grayscale 在以太坊 ETF 上大举押注，不顾 SEC 的犹豫

Grayscale 首席法务官 Craig Salm 对美国现货以太坊 ETF 的批准仍然持乐观态度，他引用了一个与现货比特币 ETF 类似的令人信服的案例。尽管美国 SEC 缺乏承诺，但 Salm 认为这些问题是可以解决的，与比特币 ETF 面临的问题类似，还有其他动机，包括与 ETH 期货 ETF 的一致性、ETH 期货作为商品的分类以及投资者的需求。这种信心反映在 Grayscale 最近提交的 19b-4 修订表以批准其 ETHE 现货 ETF 中。

Grayscale Bullish on Ethereum Spot ETFs, Despite SEC's Hesitation

尽管 SEC 犹豫不决，灰度仍看好以太坊现货 ETF

In a series of tweets, Craig Salm, Chief Legal Officer of Grayscale Investments, expressed strong confidence in the eventual approval of spot Ethereum exchange-traded funds (ETFs) in the United States, despite the perceived "lack of commitment" from the Securities and Exchange Commission (SEC).

Grayscale Investments 首席法务官 Craig Salm 在一系列推文中表达了对美国最终批准现货以太坊交易所交易基金 (ETF) 的强烈信心，尽管美国证券交易委员会认为“缺乏承诺”。交易委员会（SEC）。

Salm's optimism stems from the belief that the case for Ethereum spot ETFs is just as compelling as the one for Bitcoin spot ETFs, which received SEC approval in January 2024. He noted, "In the final months leading up to #Bitcoin ETF approval, @Grayscale and others received positive and constructive engagement from the SEC."

Salm 的乐观源于相信以太坊现货 ETF 的案例与比特币现货 ETF 的案例一样引人注目，比特币现货 ETF 于 2024 年 1 月获得了 SEC 的批准。他指出，“在 #Bitcoin ETF 批准之前的最后几个月，@ Grayscale 和其他公司得到了 SEC 的积极和建设性参与。”

Salm also highlighted other factors that bolster his conviction in the approval of Ethereum spot ETFs. These include:

Salm 还强调了其他因素，这些因素增强了他对以太坊现货 ETF 获得批准的信念。这些包括：

• Consistency with ETH Futures ETFs: Ethereum futures ETFs have already been approved, suggesting that the SEC is open to regulated ETH products.
• Regulation of ETH Futures as Commodity Futures: The SEC's classification of ETH futures as commodity futures, rather than securities futures, provides a legal framework for spot ETFs.
• High Correlation Between Futures and Spot: The strong correlation between ETH futures and the spot price indicates that spot ETFs would track the value of Ethereum accurately.

Furthermore, Salm emphasized the growing demand from investors for Ethereum spot ETFs. "It is precisely investors who want and deserve access to Ethereum in the form of an Exchange-Traded Fund spot, just like what happened with Bitcoin," he tweeted.

与 ETH 期货 ETF 的一致性：以太坊期货 ETF 已经获得批准，这表明 SEC 对受监管的 ETH 产品持开放态度。 将 ETH 期货作为商品期货进行监管：SEC 将 ETH 期货归类为商品期货，而不是证券期货，这提供了期货与现货之间的高度相关性：ETH期货与现货价格之间的强相关性表明现货ETF将准确跟踪以太坊的价值。此外，Salm强调投资者对以太坊现货ETF的需求不断增长。他在推特上写道：“正是投资者想要并且应该以交易所交易基金现货的形式获得以太坊，就像比特币发生的情况一样。”

Grayscale's bullish stance is reflected in its recent actions. Last week, the company filed an amended Form 19b-4 with the SEC for its Ethereum spot ETF application. The updated form seeks approval to list the Grayscale Ethereum Spot ETF (ETHE) on the NYSE Arca.

灰度的看涨立场反映在其最近的行动中。上周，该公司向 SEC 提交了修订后的 19b-4 表格，用于其以太坊现货 ETF 申请。更新后的表格寻求批准灰度以太坊现货 ETF (ETHE) 在 NYSE Arca 上市。

Grayscale is not the only player vying for SEC approval. Several other asset managers, including BlackRock, VanEck, ARK 21Shares, and Fidelity, have also submitted applications for Ethereum spot ETFs. Analysts anticipate that the SEC will rule on VanEck's application by May 23, which could provide insights into the regulatory body's stance on spot ETH ETFs.

Grayscale 并不是唯一一家争夺 SEC 批准的公司。其他几家资产管理公司，包括 BlackRock、VanEck、ARK 21Shares 和 Fidelity，也提交了以太坊现货 ETF 的申请。分析师预计 SEC 将在 5 月 23 日之前对 VanEck 的申请做出裁决，这可以让人们了解监管机构对现货 ETH ETF 的立场。

In addition to its ETF pursuits, Grayscale recently introduced the Grayscale Dynamic Income Fund (GDIF), a new fund focused on crypto staking. The fund initially includes nine blockchain assets in its portfolio, including APT, TIA, CBETH, ATOM, NEAR, OSMO, DOT, SEI, and SOL. The GDIF aims to generate income for investors through quarterly distributions in US dollars.

除了关注 ETF 之外，灰度最近还推出了灰度动态收益基金（GDIF），这是一款专注于加密货币质押的新基金。该基金最初在其投资组合中包括九种区块链资产，包括 APT、TIA、CBETH、ATOM、NEAR、OSMO、DOT、SEI 和 SOL。 GDIF 旨在通过美元季度分配为投资者创造收入。

Grayscale's confidence in the future of Ethereum spot ETFs and its expansion into crypto staking underscore the growing institutional acceptance and adoption of digital assets. The outcome of the SEC's review of Ethereum spot ETF applications will be closely watched by investors, asset managers, and the crypto industry as a whole.

Grayscale 对以太坊现货 ETF 的未来充满信心，并扩展到加密货币质押领域，这突显了机构对数字资产的接受和采用不断增长。美国证券交易委员会对以太坊现货 ETF 申请的审查结果将受到投资者、资产管理公司和整个加密行业的密切关注。