TechFlow reports that Coinbase met with officials from the U.S. SEC on March 6 to discuss Grayscale's proposal to convert its Ethereum trust into a spot ETF. Attending the meeting were Grayscale’s legal counsel Davis Polk, along with multiple members from the SEC’s Division of Trading and Markets.
According to Coinbase’s presentation materials from the meeting, potential Ethereum ETF shares should be classified as commodity-based shares, the same as Bitcoin ETFs. Coinbase stated that the ETH spot market demonstrates strong resilience against fraud and manipulation. Coinbase also indicated it would enter into a surveillance-sharing agreement with CME to assist in investigating fraudulent and manipulative activities.
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