Grayscale is jumping on the Ethereum ETF hype that has gripped the market for a while now. Amidst the disheartening announcements made by the Securiti
es and Exchange Commission regarding spot Bitcoin ETFs, ETH Futures ETFs are observing a much more favorable environment. Grayscale announced on Monday that the asset management firm filed an application with the SEC to convert the Grayscale Ethereum Trust into a spot Ethereum ETF. The filing came in following the positive reaction noted by the regulatory body over the past couple of days concerning the barrage of Ethereum Futures exchange-traded funds filings.
Grayscale recently won the lawsuit when a three-judge panel of the District of Columbia Court of Appeals in Washington ruled in favor of the asset manager, stating that the SEC was wrong to reject the application. While the SEC can still appeal the court's decision, no move has been made yet, with the Commission stating it is still studying the ruling.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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