In a significant development for the cryptocurrency market, Coinbase has firmly supported Grayscale's application to convert its Ethereum Trust into a spot Ether exchange-traded product (ETP). The chief legal officer of Coinbase, Paul Grewal, presented a detailed 27-page letter outlining the legal, technical, and economic rationale for the Securities and Exchange Commission (SEC) to approve an Ether-based ETP.
Sentiment Result : Positive
