SEC Approves Grayscale's Ethereum ETF

The United States Securities and Exchange Commission (SEC) has authorized Grayscale's Ethereum Exchange Traded Fund (ETF) products to trade under general listing rules. This development presents a significant opportunity for investors and helps to clarify regulations in the industry.

SEC announced on September 23, 2023 that it has approved the rule change that the New York Stock Exchange Arca implemented on September 19, 2025. With this change, the Grayscale Ethereum Trust ETF and the Grayscale Ethereum Mini Trust ETF are no longer "Non-Generic" (specially approved) and are now subject to "Generic" listing rules. As a result, these products will no longer require separate approval from the SEC each time they seek to be listed.

Grayscale's Ethereum-based investment products were approved and launched in two phases in May 2024 and July 2024. However, the new regulation ensures that these funds are subject to the same standards as other commodity-based exchange-traded products (ETFs). For investors, this means that there is no uncertainty in the continued trading of ETFs.

Market experts see this step by the SEC as an indication that the overall crypto ETF market, as well as Ethereum-based investment vehicles, is becoming more institutionalized and standardized. This development may open the door to similar ETF structures for different crypto assets in the coming period.

SEC's implementation of the general listing rule allows crypto-based ETF products to be traded in the same framework as traditional exchange-traded products. This transition means operational ease and speed for both exchanges and investors. The standardization period in the crypto ETF market will allow investors to trade in a more predictable and flexible structure.