Grayscale, the leading cryptocurrency asset manager, has retired its 19b-4 filing for an Ethereum futures exchange-traded fund.
Grayscale, the leading cryptocurrency asset manager, has retired its 19b-4 filing for an Ethereum futures exchange-traded fund.
According to James Seyffart, one of ETF’s top analysts, this was essentially a “Trojan horse” filing, as it was supposed to create the same circumstances that allowed Grayscale to win the GBTC lawsuit.
Seyffart appears to be perplexed by Grayscale’s recent move. “In my opinion, could you also have the SEC write an approval or denial for an ETH futures ETF and go from there?” he suggested.
The analyst added that Grayscale may have had a conversation with the U.S. Securities and Exchange Commission, prompting its decision to pull out.
As reported by U.TodayNete Geraci predicted that Grayscale would take the SEC back to court if it denied its Ethereum spot ETF application.
However, Eric Balchunas, senior ETF analyst at Bloomberg, has noted that the recent move is a good sign that Grayscale is not going to file another lawsuit against the agency.
Earlier this week, the SEC delayed its decision on the proposed Invesco Galaxy Ethereum ETF.
The agency is expected to reject ARK and VanEck’s Ethereum ETF proposals this month. The ETFs are expected to be rejected for purely technical reasons, but previous reports suggest that Ether’s murky legal status and political pressure are the key factors that have prevented the approval of Ethereum spot ETFs.
Ether is down 3.6% in the last 24 hours, according to data provided by CoinGecko.
