Grayscale Files Second Ethereum Futures ETF Application

Crypto News – Grayscale Investments has reapplied to establish an Exchange-Traded Fund (ETF) for Ethereum Futures, which is a recent development.

Grayscale Files Second Ethereum Futures ETF Application

The business has now made a second attempt to have such an ETF approved. To increase the likelihood of success, this step also includes specific regulatory initiatives. The step is now in compliance with the regulatory framework that is generally used for reporting commodities and Bitcoin ETFs due to this tactical adjustment.

It’s interesting that five other companies have also chosen this regulatory route for their applications for Ethereum Futures ETFs. This dual-application strategy’s rationale is still a little hazy, but one theory holds that it is an attempt to increase the likelihood of approval.

ETF Approvals Could Come Around October

SEC is reportedly actively considering these petitions, with approvals perhaps arriving as early as October, according to recent developments. The SEC is now reviewing six applications, including Grayscale’s.

It is Grayscale’s legal victory against the SEC that further layers the unfolding events. When its request to transform the Grayscale Bitcoin Trust (GBTC) into a Bitcoin spot ETF was rejected in June 2022, Grayscale didn’t give up. A court ruled in August 2023 that the SEC should reconsider Grayscale’s application, highlighting the need for a more thoughtful evaluation process. On the other hand, this judgment did not sit well with Grayscale executives. The company’s pursuit of an Ethereum Futures ETF may be greatly impacted by this change of events.