Grayscale has transferred $1 billion in ETH to Coinbase in preparation for launching an Ethereum spot ETF

Odaily Odaily News Chain data shows that on July 22, Grayscale, one of the first ETF issuers, sent 292,262 ETH worth more than $1 billion to the Coinbase Prime deposit wallet. According to an article published by data provider iChaininfo on July 23, after the transfer, about 10% of the 292,000 ETH were transferred from the Coinbase hot wallet to the Grayscale Mini Trust or wallet "0xab3". Large-scale transfers indicate that Grayscale is preparing for the launch of its Ethereum spot ETF. (Cointelegraph) Earlier today, the cryptocurrency trading platform Coinbase officially stated that today, the U.S. Securities and Exchange Commission (SEC) approved the application of 9 spot Ethereum ETFs. Following the approval of the spot Bitcoin ETF by the U.S. SEC in January this year, the approval of the spot Ethereum ETF marks another important milestone for cryptocurrencies, reflecting the continued innovation and increasingly mature regulatory environment around crypto assets. Coinbase has also become a trusted partner and custodian for 10 Bitcoin spot ETFs and 8 newly approved Ethereum spot ETFs.