Digital currency asset manager Grayscale Investments today announced that Grayscale Ethereum Trust has become an SEC reporting company.

This means that the Trust and its shares are now registered under the Securities Exchange Act. This follows Grayscale Investments’ filing of the Registration Statement on Form 10 on October 2, 2020.

It is the second digital currency investment vehicle to become an SEC reporting company, after the Grayscale Bitcoin Trust became listed on January 21, 2020. The Grayscale Bitcoin Trust allows investors to gain Bitcoin exposure.

Now, Grayscale has targeted the second largest cryptocurrency by market cap.

The Grayscale Ethereum Trust is solely invested in Ethereum, with shares designed to provide investors with a cost-effective way of gaining Ethereum exposure. Now, as a result of the registration, investors who own or purchase Trust shares have an earlier liquidity opportunity. The holding period of shares purchased through private placement is reduced from 12 to 6 months under the Securities Act.

Another change to the Trust will be the requirement to file quarterly and annual reports, including financial statements.