Grayscale Investments has sent shockwaves through the industry by dropping its application for the Ethereum Futures ETF. While the organization hasn’t opened up on the reason for its decision, the crypto community has weighed in their opinion. Moreover, Fox Journalist Eleanor Terrett has revealed potential reasons for the withdrawal of Grayscale’s Ether Futures ETF.
Why Did Grayscale Withdraw ETH Futures ETF?
Grayscale recently made headlines as they withdrew their 19b-4 filing for an Ethereum futures ETF. Bloomberg ETF Research Analyst, James Seyffart, characterized the filing as a “trojan horse” strategy. Moreover, he suggested that Grayscale aimed to replicate the circumstances that led to the approval of their GBTC Bitcoin ETF.
In addition, Seyffart highlighted that Grayscale could leverage the contradictory nature of SEC decisions. He cited how Grayscale won the lawsuit vy highlighting the SEC’s decision of approving Bitcoin futures-based ETFs while denying Spot Bitcoin
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