America’s biggest cryptocurrency exchange met with the Securities and Exchange Commission last week over Grayscale’s proposed spot Ethereum (ETH) exchange-traded fund.

Publicly-listed Coinbase gave a presentation to Wall Street’s top regulator where it talked about Grayscale’s proposed product, documents filed on Wednesday from the regulator show.

In October, Crypto fund manager Grayscale filed an application with the SEC to convert its Grayscale Ethereum Trust (ETHE) into a spot ETH ETF. The proposed ETF would give investors direct exposure to the second biggest cryptocurrency; it would trade on a stock exchange—allowing investors to buy shares that track ETH’s price.

Coinbase’s presentation showed that the crypto exchange had spoken about potential market manipulation and how the exchange would have a “comprehensive surveillance-sharing agreement with the Chicago Mercantile Exchange will assist in surveilling for fraud and manipulation.”

“Spot markets for ETH are highly indicative of a market resilient to fraud and manipulation,” the presentation said, adding that the cryptocurrency has “mechanisms that significantly limit ETH’s susceptibility to fraud and man

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Author: Mathew Di Salvo

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