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Grayscale submits new futures Ethereum ETF application.

BlockBeats news, September 20th - According to WSJ, Grayscale Investment Company submitted an application to the US Securities and Exchange Commission (SEC) on Tuesday for a new Ethereum futures ETF, which is registered under the Securities Act of 1933. At the same time, this Securities Act also regulates the registration of commodity and spot Bitcoin ETFs. Previously, Grayscale also applied for a standalone Ethereum futures ETF based on the Investment Company Act of 1940, while most securities-based ETFs are registered under this act.

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Why did Grayscale withdraw its Ethereum futures ETF application on the eve of SEC approval?

1. Grayscale Investments withdrew its Ethereum futures ETF application submitted to the U.S. Securities and Exchange Commission (SEC). 2. Grayscale did not explain the reason for the withdrawal, but mentioned that the SEC had repeatedly delayed reviewing its application. 3. Analyst James Seyffart believes that Grayscale may use the ETF application as a strategic move to create a situation similar to the GBTC lawsuit. 4. Seyffart speculates that Grayscale may aim to increase the chances of spot ETF approval or resubmit a revised application to reduce the workload of the SEC. 5. SEC Chairman Gary Gensler said that the SEC is still weighing the decision on the Ethereum spot ETF and emphasized the problem of fraud in the crypto market.

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