Grayscale Ether Futures ETF Proposal Withdrawn: Latest Update
In a recent development, the proposal to introduce shares of Grayscale's ether futures exchange-traded fund has been withdrawn, as indicated by a filing made on Tuesday.
This move comes after NYSE Arca, Inc. submitted an application for the Grayscale Ethereum Futures Trust ETF in September last year, only to withdraw it on May 3, as stated in a filing with the Securities and Exchange Commission.
Details regarding the reasons for withdrawal remain undisclosed, with NYSE Arca opting not to comment on the matter. Grayscale has also refrained from immediate response to inquiries.
Previously, the SEC had postponed its evaluation of Grayscale’s ETH futures ETF, with the most recent delay occurring in March. Nonetheless, in October 2023, the SEC granted approval to a range of ether futures ETFs, including those from ProShares, VanEck, and Bitwise.
READ MORE: SEC Delays Decision on Ethereum ETF Proposal
Recent weeks have witnessed delays in the SEC’s deliberation process concerning spot Ethereum ETFs, including one proposed by Grayscale. The most recent delay, announced on Monday, extends the timeline for the Invesco Galaxy Ethereum ETF to July 5.
Optimism surrounding the SEC’s approval of such ETFs has diminished in recent months. Bloomberg ETF analyst Eric Balchunas, for instance, has revised his estimation of the likelihood of a spot Ethereum ETF approval by late May from approximately 70% to 25%.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
