ProShares submits S-1 registration statement for Ethereum spot ETF

ChainCatcher news, according to CryptoSlate, ProShares submitted an S-1 registration statement for a spot Ethereum ETF on June 11. According to the document, Coinbase Credit will serve as the company's trading credit lender, allowing it to borrow Ethereum (ETH) and cash in certain trades exceeding the trading balance. BNY Mellon will act as the transfer agent, handling subscription and redemption orders and maintaining ownership records of the fund. Additionally, BNY Mellon will serve as the manager and cash custodian, Coinbase Custody will act as the Ethereum custodian, Coinbase Inc. will be the primary execution agent, Delaware Trust Company will act as the trustee, and ProShare Capital Management will serve as the issuer.