Grayscale CEO Michael Sonnenshein is reportedly “optimistic” on the prospects for approval of the Ethereum ETF.
Grayscale CEO Michael Sonnenshein is reportedly “optimistic” on the prospects for approval of the Ethereum ETF.
The head of the latest cryptocurrency asset manager hopes the agency will do “the right thing.”
As reported by U.Today, Grayscale recently withdrew its Ethereum futures ETF application after it was delayed in November. According to ETF analyst James Seyffart, this was a Trojan horse filing intended to obtain a 19b-4 order from the SEC.
However, according to several analysts, Grayscale’s withdrawal likely means it will not file another lawsuit against the SEC.
Last August, Grayscale scored a major victory against the agency, which ultimately paved the way for the approval of a series of Bitcoin ETFs in January.
Grayscale’s GBTC recently recorded its first days of inflows after months of non-stop bleeding.
Despite the success of Bitcoin ETFs, the consensus seems to be that the SEC will reject several Ethereum ETF applications this March due to a complete lack of engagement with ETF issuers.
Recently, Consensys, a key backer of Ethereum and led by Ethereum co-founder Joseph Lubin, took the SEC to court over its attempt to label the leading altcoin as a security.
In late April, Bitcoin and Ethereum ETFs began trading in Hong Kong, but their debut was quite disappointing.