FINRA approves Grayscale Ethereum Trust for retail

Asset management firm Grayscale has secured approval from FINRA to list eligible shares of its Grayscale Ethereum Trust, making it the first publicly quoted security tied to the second largest cryptocurrency, the firm said.

Grayscale manages 10 funds, most of which are only available to accredited investors. Now, the Ethereum Trust, similarly to Grayscale's Bitcoin Trust, will be able to trade freely as other securities in over-the-counter markets. To be sure, Grayscale's product is not the same as an exchange-traded fund, which promise more liquidity, lower fees, are more widely available.

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