Major crypto asset manager Grayscale Investments has filed a voluntary Registration Statement on Form 10 with the US Securities and Exchange Commission (SEC) on behalf of Grayscale Ethereum Trust, the firm announced today.

If the filing comes into effect, the trust would become the second crypto investment firm—after Grayscale Bitcoin Trust—to attain the status of an SEC reporting company, the document added.

“Today, it’s clearer than ever that there is strong demand for an Ethereum access product as the Trust has grown to become the largest Ethereum investment vehicle in the world,” wrote Grayscale.

Grayscale noted that its Ethereum Trust brought in $135.2 million in investment in the second quarter of 2020. This accounted for 15% of its total inflows.

With the filing, Grayscale aims to attract more institutional investors as many institutions restrict investments in instruments not registered with the SEC.

The firm also stressed that this filing should not be considered an attempt to classify the trust as an exchange-traded fund (ETF), although its products do indeed “have a familiar structure to investors.”

“The Trust is an investment product that offers investors exposure to Ethereum in the form of security, avoiding the challenges of buying, storing, and safekeeping Ethereum directly,” the company noted.

If Form 10 comes into effect, the structure of the trust will not change and it will “continue to not operate a redemption program nor trade on a national securities exchange.”