$BTC

Will BTC experience a decline

Previously, the SEC was scheduled to make a final decision on the Grayscale Ether futures ETF on May 30.

Grayscale initially filed a 19b-4 application for an Ether futures ETF on September 19, 2023, which would be listed on the New York Stock Exchange, if approved.

Bloomberg ETF analyst James Seyffart initially believed that Grayscale planned to use its Ether ETF futures strategically to corner the SEC into approving an Ether ETF.

But he expressed confusion as to why Grayscale would pull out now, when the SEC will be forced to make a decision to approve or deny at least one spot Ether ETF application on May 23, about two weeks away.

For several months, Seyffart and fellow Bloomberg ETF analyst Eric Balchunas had a 25% chance that a spot Ether ETF would be approved on May 23, down from 70% in January.

However, comments from SEC Chairman Gary Gensler in a May 7 interview with CNBC suggest that the SEC is still weighing its decision regarding the Ether ETF.

For your information, the SEC must make a decision on VanEck's application on May 23, while ARK 21Shares and Hashdex have final deadlines on May 24 and May 30.