Grey Release Urges SEC to Approve Ethereum ETF Pledge, Says $61 million Gains Missed
2025-04-28 03:54:59
According to Bitcoin.com, grey release, an asset manager, met with the SEC's crypto working group on April 21 to apply for permission to pledge its Ethereum ETFs (ETHE and ETH). The company said that due to regulatory restrictions, its $8.10 billion assets under management have missed about $61 million in potential gains from the product launch to February 2025. Grayscale made three arguments: 1) the European and Canadian congeneric products have successfully implemented pledges; 2) the pledge can enhance the cyber security of Ethereum; 3) the risk control plan including "liquidity reserve" has been developed. Coinbase Custody will provide technical support to avoid the risk of fines. The current US spot Ethereum ETP cannot fully realize the value of the underlying assets due to the prohibition of pledges. Grey release called on the SEC to update its rules with reference to traditional financial products.
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