PANews reported on April 28 that according to Bitcoin.com, asset management company Grayscale met with the SEC Crypto Working Group on April 21 to apply for permission for its Ethereum ETF (ETHE and ETH) to conduct pledge operations. The company said that due to regulatory restrictions, the $8.1 billion in assets it manages has missed out on about $61 million in potential returns from the launch of the product to February 2025. Grayscale made three arguments: 1) Similar products in Europe and Canada have successfully implemented pledges; 2) Pledges can enhance the security of the Ethereum network; 3) Risk control plans including "liquidity reserves" have been developed. Coinbase Custody will provide technical support to avoid the risk of fines. The current US spot Ethereum ETP cannot fully reflect the value of the underlying assets due to the prohibition of pledges. Grayscale called on the SEC to update regulatory rules with reference to traditional financial products.