格雷斯卡（Grayscale）敦促SEC批准以太坊ETF的积分，并以数千万的错过奖励为由

Grayscale Investments已敦促美国证券交易委员会（SEC）批准以太坊ETF的积分，指出目前的限制使投资者损失了数千万的遗漏奖励。

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已敦促美国证券交易委员会（SEC）批准以太坊ETF的积分，指出目前的限制使投资者损失了数千万的遗漏奖励。

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日与SEC的加密赛特遣部队成员的会面上，包括Clo Craig Salm在内的Grayscale的高管提倡进行监管修正案，以允许其以太坊ETP，特别是Grayscale Ethereum Trust ETF（ETHE）和GRAYSCALE ETHEREMCALE MINI MINI TRUSSF ETF，并参与了ETF的活动。

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.

根据总结讨论的备忘录，Grayscale提交了更新的表格19b-4备案，要求许可以使其在其上市的以太坊基金中累积。该公司认为，与加拿大和欧洲这样的司法管辖区的国际同行相比，美国ETH ETP处于竞争劣势，那里已经允许占有。

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强调，从头开始到2024年2月，无法使用股权使美国ETP损失了约6100万美元的潜在奖励。这笔款项不包括复利，这可能会大大增加错过的机会。

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

该公司说：“这些放入奖励已转向非美国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.

除了财务影响之外，灰度还强调了积分的功能好处。该公司在向监管机构的演讲中说：“通过Stataking，美国ETH ETP将有助于以太坊区块链的安全性和绩效，同时为股东带来回报。”

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.

为了在锁定锁定期内处理流动性和救赎问题，Grayscale还提出了多管齐下的流动性解决方案。这包括现金储备的“流动性套筒”，与托管人的信贷安排以及用于平稳基金运营的短期融资合作伙伴关系。

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.

这家投资公司通过强调以太坊ETP市场的成熟度以及对监管相应发展的需求而结束。该备忘录说：“当前的ETH ETP并不能完全代表其基本资产，因为它们被禁止静止。” Grayscale还承认所涉及的风险（例如削减和税收影响），但对其安全表达了信心，包括通过Coinbase拘留的监护权解决方案。