Grayscale has transferred $1 billion in ETH to Coinbase in preparation for launching an Ethereum spot ETF

One of the first ETF issuers, Grayscale, sent 292,262 ETH worth over $1 billion to Coinbase Prime's deposit wallet. Data provider iChaininfo shows that after the transfer, about 10% of the 292,000 ETH was moved from Coinbase's hot wallet to Grayscale Mini Trust or wallet "0xab3". This large-scale transfer indicates that Grayscale is preparing for the launch of its Ethereum spot ETF.