In the morning of Eastern Time Zone 8, Grayscale withdrew the application for Ethereum futures ETF, but please note that they did not withdraw the spot (Grayscale used ETHE Trust to convert ETF).
Many people are curious about the reason and why Grayscale backed off! ? Is ETH's ETF going to be rejected? #ETH
But I don't think so. Let's look at the institutions and products that applied this time. Except for Grayscale's application for futures ETF, other institutions have honestly applied for spot ETF.
Among them, VanEck's application must be decided on May 23, and ARK and Hashdex's applications are on the 24th and 30th respectively. Grayscale's withdrawal of the futures ETF application this time was also on May 30, which is very close to the time of these institutions.
So I think Grayscale's withdrawal of the futures ETF application this time is the result of communication with the SEC. They need consistency in the approval of ETFs, just like the BTC ETF in January, everyone passed together. Grayscale's futures ETF seems a bit strange among the spot ETFs. Perhaps the SEC really does not want the futures ETF to be approved, nor does it want this to affect the spot ETF, so it eventually let Grayscale withdraw voluntarily.
