Coinbase is actively pushing for SEC approval to list the Grayscale Ethereum Trust for trading, emphasizing Ethereum’s status as a commodity rather than a security.
This move aligns with Coinbase’s efforts to expand its custodial business, as it already serves as a custodian for several recently approved US Bitcoin ETFs.
In a recent development, crypto exchange Coinbase has actively advocated for the U.S. Securities and Exchange Commission (SEC) to greenlight the trading listing of the Grayscale Ethereum Trust, as revealed by the company’s chief legal officer, Paul Grewal.
Today @coinbase responded to @SECGov’s request for comment on the proposed @Grayscale Ether Trust ($ETHE) ETP. 27 pages and 96 citations that provide the (1) legal, (2) technical, and (3) economic rationale for approval. 1/6
— paulgrewal.eth (@iampaulgrewal) February 21, 2024

Grewal took to the social media platform X to share the update, stating that Coinbase has promptly responded to the SEC’s call for

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