Ethereum
Grayscale Delists Ethereum Futures ETF “Trojan Horse”
Alex Dovbnya
The withdrawal likely means Grayscale will not sue the SEC again.
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Grayscale, the leading cryptocurrency asset manager, has took of its 19b-4 filing for an Ethereum futures exchange-traded fund.
According to James Seyffart, a leading ETF analyst, this was essentially a “Trojan horse” since it was supposed to create the same circumstances that allowed Grayscale to win the GBTC case.
Seyffart seems perplexed by Grayscale’s recent decision. “In my mind, might we just ask the SEC to write an approval or denial for an ETH futures ETF and go from there?” he suggested.
The analyst added that Grayscale could have had a conversation with the United States Securities and Exchange Commission, which prompted their decision to withdraw.
As reported by U.TodayNete Geraci predicted that Grayscale would sue the SEC again if it denied its one-time application for an Ethereum ETF.
However, Eric Balchunas, senior ETF analyst at Bloomberg, noted that this recent decision is a good sign that Grayscale will not take another legal action against the agency.
Earlier this week, the SEC delayed its decision on Invesco Galaxy’s Ethereum ETF proposal.
About the Author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to this booming industry, from price analysis to blockchain disruption. Alex has authored over 1,000 articles for U.Today, CryptoComes and other fintech media. He is particularly interested in regulatory trends across the world that are shaping the future of digital assets. He can be contacted at alex.dovbnya@u.today.