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Applying for the Ethereum futures ETF, Grayscale seeks approval

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Grayscale Applies for New Ethereum Futures ETF

Grayscale Applies for New Ethereum Futures ETF

Grayscale has submitted a filing for a new Ethereum futures exchange-traded fund (ETF), as reported by the Wall Street Journal on Sept. 19.

Grayscale submitted its filing under the Securities Act of 1933, which is different from its previous attempts under the Investment Company Act of 1940 for an Ethereum futures ETF.

The U.S. Securities and Exchange Commission (SEC) has approved several Bitcoin futures ETFs under both acts, and the possibility of Ethereum futures ETFs gaining approval is promising.

Many asset managers, including Volatility Shares, Bitwise, ProShares, VanEck, Roundhill, and Valkyrie Investments, have already applied for Ethereum futures ETFs, with at least 12 total applicants identified.

Grayscale Pursues Bitcoin Spot ETF

Grayscale aims to convert its GBTC fund into a spot Bitcoin ETF. Despite initial disapproval by the SEC in 2022, a recent legal victory may lead to a review of the application.

The D.C. Court of Appeals acknowledged the similarities between Grayscale’s ETF conversion and previously approved Bitcoin futures ETFs, potentially favoring Grayscale.

While optimism is high, approval of Grayscale’s proposal is not guaranteed, as the SEC must review the application first.

Other firms are also pushing for Bitcoin spot ETFs, following a notable application by BlackRock in June. Grayscale’s unique spot Bitcoin ETF application pertains to an existing fund.

The post Grayscale applies for new Ethereum futures ETF was published on CryptoSlate.

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