TechFlow reported, according to CryptoSlate, that ProShares submitted a Form S-1 registration statement for a spot Ethereum ETF on June 11.
The filing indicates that Coinbase Credit will serve as the company's trading credit lender, allowing it to borrow Ethereum (ETH) and cash for certain transactions exceeding trading balances. BNY Mellon will act as transfer agent, handling subscription and redemption orders and maintaining records of fund ownership.
In addition, BNY Mellon will serve as administrator and cash custodian, Coinbase Custody will be the Ethereum custodian, Coinbase Inc. will serve as the primary execution broker, Delaware Trust Company will act as trustee, and ProShare Capital Management will be the issuer.
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