Is an Ethereum Spot ETF Still Possible?
TL;DR
Full Story
Everyone knows the traditional story of the Computer virus.
The one the place the Greeks gifted an enormous wood horse to the town of Troy full of troopers who jumped out of it as soon as they had been in Troy’s partitions and overtook the town.
Properly, that very same type of tactic was utilized by Grayscale to get the BTC spot ETFs authorised.
Again in August final yr, Grayscale took the SEC to courtroom saying that it was unfair that they’d beforehand authorised the BTC futures ETFs, however wouldn’t settle for the BTC spot ETFs.
That means that the SEC not actually had a leg to face on on the subject of denying BTC spot ETFs, and so they in the end approved 11 of them within the US on tenth Jan, 2024.
Nevertheless it appears Grayscale isn’t taking the identical strategy for his or her Ethereum spot ETF…at the very least not but.
As of Tuesday, Grayscale withdrew their Ethereum futures ETF (and with no ‘futures’ ETF approval, it’s a provided that there might be no ‘spot’ ETF approval).
On one hand, because of this it received’t go to courtroom proper now, that means the SEC can’t deny the ETH futures ETF by way of authorized priority.
…then again, that’s as a result of there’s no ETH futures ETF software.
Is that as a result of Grayscale are withdrawing, renewing, and resubmitting a stronger software? Or do they imagine it is going to by no means be authorised and so they’ve withdrawn the appliance for good?
Solely Grayscale is aware of.
