格雷斯卡（Grayscale）敦促SEC批准以太坊ETF的積分，並以數千萬的錯過獎勵為由

Grayscale Investments已敦促美國證券交易委員會（SEC）批准以太坊ETF的積分，指出目前的限制使投資者損失了數千萬的遺漏獎勵。

Grayscale Investments has urged the US Securities and Exchange Commission (SEC) to approve staking for Ethereum ETF stating that the current restrictions have cost investors tens of millions in missed rewards.

Grayscale Investments已敦促美國證券交易委員會（SEC）批准以太坊ETF的積分，指出目前的限制使投資者損失了數千萬的遺漏獎勵。

At a meeting with members of the SEC’s Crypto Task Force in Washington, D.C., on April 21, executives from Grayscale, including CLO Craig Salm, advocated for regulatory amendments that would allow their Ethereum ETPs, specifically the Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF, to participate in staking activities.

在4月21日與SEC的加密賽特遣部隊成員的會面上，包括Clo Craig Salm在內的Grayscale的高管提倡進行監管修正案，以允許其以太坊ETP，特別是Grayscale Ethereum Trust ETF（ETHE）和GRAYSCALE ETHEREMCALE MINI MINI TRUSSF ETF，並參與了ETF的活動。

According to a memorandum summarizing the discussion, Grayscale submitted an updated Form 19b-4 filing, requesting permission to enable staking within its US-listed Ethereum funds. The firm contends that American ETH ETPs are at a competitive disadvantage compared to international counterparts in jurisdictions like Canada and Europe, where staking is already permitted.

根據總結討論的備忘錄，Grayscale提交了更新的表格19b-4備案，要求許可以使其在其上市的以太坊基金中累積。該公司認為，與加拿大和歐洲這樣的司法管轄區的國際同行相比，美國ETH ETP處於競爭劣勢，那裡已經允許佔有。

Grayscale highlighted that the inability to stake has cost US ETH ETPs approximately $61 million in potential rewards from their beginning through February 2024. This amount excludes compounding, which could significantly increase the missed opportunity.

Grayscale強調，從頭開始到2024年2月，無法使用股權使美國ETP損失了約6100萬美元的潛在獎勵。這筆款項不包括複利，這可能會大大增加錯過的機會。

“These staking rewards have instead flowed to non-U.S. ETH ETPs and private stakers,” the firm stated.

該公司說：“這些放入獎勵已轉向非美國ETH ETP和私人stakers。”

Beyond the financial impact, Grayscale stressed the functional benefits of staking. “Through staking, U.S. ETH ETPs will contribute to the security and performance of the Ethereum blockchain while generating returns for shareholders,” the company said in its presentation to regulators.

除了財務影響之外，灰度還強調了積分的功能好處。該公司在向監管機構的演講中說：“通過Stataking，美國ETH ETP將有助於以太坊區塊鏈的安全性和績效，同時為股東帶來回報。”

In a bid to handle liquidity and redemption issues during staking lock-up periods, Grayscale also proposed a multi-pronged liquidity solution. This includes a “Liquidity Sleeve” for cash reserves, revolving credit arrangements with custodians, and short-term financing partnerships for smooth fund operations.

為了在鎖定鎖定期內處理流動性和救贖問題，Grayscale還提出了多管齊下的流動性解決方案。這包括現金儲備的“流動性套筒”，與託管人的信貸安排以及用於平穩基金運營的短期融資合作夥伴關係。

The Investment firm concluded by emphasizing the maturity of the Ethereum ETP market and the need for regulation to evolve accordingly. “Current spot ETH ETPs do not fully represent their underlying asset because they are prohibited from staking,” the memo said. Grayscale also acknowledged the risks involved (such as slashing and tax implications), but expressed confidence in its security, including custody solutions through Coinbase Custody.

這家投資公司通過強調以太坊ETP市場的成熟度以及對監管相應發展的需求而結束。該備忘錄說：“當前的ETH ETP並不能完全代表其基本資產，因為它們被禁止靜止。” Grayscale還承認所涉及的風險（例如削減和稅收影響），但對其安全表達了信心，包括通過Coinbase拘留的監護權解決方案。