Ethereum Futures ETF

Grayscale recently withdrew its Ethereum futures ETF application after delaying it in November. According to senior ETF analyst James Seyffart, this was merely a Trojan horse application made to obtain a 19b-4 order from the SEC, indicating a sort of preparatory process.

However, according to multiple analysts, Grayscale’s withdrawal likely means it won’t pursue another lawsuit against the SEC.

Last August, Grayscale scored a major victory against the agency, paving the way for the approval of several Bitcoin ETFs in January. Grayscale’s GBTC recently registered its first inflows after months of uninterrupted outflows.

Bitcoin & Ethereum ETF

Despite the success of Bitcoin ETFs, there seems to be a consensus that the SEC will reject several Ethereum ETF applications in March based on a lack of full engagement with ETF issuers.

Meanwhile, Joseph Lubin, co-founder of the Ethereum network and head of the ETH supporter Consensys, sued the SEC over its attempt to label ETH, the largest altcoin, as a security.

Bitcoin and Ethereum ETFs started trading in Hong Kong at the end of April, but their initial launches were quite lackluster.