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Cryptocurrency Investment Firm Grayscale Submits A New Application for Ethereum Futures ETF

Updated: Oct 3, 2023

Reports indicate that Grayscale, the largest crypto asset manager globally, has submitted an application for an additional Ethereum futures exchange-traded fund.


Grayscale Investments made a significant move on September 19 by submitting an application to the Securities and Exchange Commission (SEC) for a fresh ETF that would track Ethereum futures.

This development holds significance because the SEC has previously given its approval to Bitcoin futures ETFs that were registered under both of these acts.

Furthermore, it's worth noting that apart from Grayscale, approximately a dozen other financial firms have also filed for ETFs related to Ethereum futures under the Investment Company Act of 1940. There's potential for these applications to be greenlit in October.

According to their assessment, the upcoming decision of whether the Federal Reserve opts for one more interest rate hike may carry less significance for the cryptocurrency market compared to the broader trend of the tightening cycle nearing its conclusion. “Fed tightening has weighed on valuations, and its conclusion could help support an eventual recovery,”

Since 2021, several Bitcoin (BTC) futures ETFs have received approval from the U.S. Securities and Exchange Commission (SEC). However, as of now, the SEC has not granted approval for any spot Bitcoin ETFs. There is optimism within the industry that the regulatory agency will follow a similar path in approving Ethereum futures ETFs.


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