Grayscale Investments, in collaboration with NYSE Arca, has filed Form 19b-4 with the United States Securities and Exchange Commission (SEC) to convert the Grayscale Ethereum Trust to a spot ether exchange-traded fund (ETF).

The filing comes on the heels of the SEC's recent clearance of the first ETH futures ETFs, Grayscale said. Earlier today, VanEck and ProShares both launched ether futures-based ETFs.

"As we file to convert ETHE to an ETF, the natural next step in the product's evolution, we recognize this as an important moment to bring Ethereum even further into the U.S. regulatory perimeter," Grayscale CEO Michael Sonnenshein said in a statement.

The Grayscale Ethereum Trust was launched in March 2019 and voluntarily became an SEC reporting company in October 2020. It is …