On 27 October 2023, the US Securities and Exchange Commission (SEC) opened a consultation to determine whether to approve NYSE Arca Inc.'s proposal to list and trade shares of the Grayscale Ethereum Trust until 15 February 2024. The SEC has invited interested persons to submit written comments, data, and arguments on various aspects of the proposal, including the adequacy of NYSE Arca's justifications, the nature of the assets held by the trust, the vulnerability of the trust and shares to manipulation, and the liquidity and transparency of the Ethereum markets. The SEC's decision will be based on the proposal's consistency with Section 6(b)(5) of the Act, which requires that the rules of a national securities exchange prevent fraudulent and manipulative acts and practices and protect investors and the public interest. The public consultation closes 21 days after the date of publication in the Federal Register (26 January 2024).
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