After filing proposals for Ethereum futures ETFs with the U.S. Securities and Exchange Commission (SEC) on Wednesday, both VanEck and ProShares have asked for them to be withdrawn.
The investment firms sent letters to the SEC on Friday, dampening hopes that a crypto ETF might be approved this year.
An ETF, or exchange-traded fund, is a financial product that tracks the price of an asset or group of assets. Instead of buying the asset(s), however, you can buy and trade shares in them on an exchange. Since ETFs are much easier to trade than closed trusts like Grayscale’s, investment firms have been clamoring to get crypto-based ETFs to market.
The VanEck and ProShares ETFs would have invested in ETH futures contracts, but not Ethereum itself. A futures contract is a type of derivative that sets the price of an asset ahead of time. If you think the price of Ether will go up to $3,000, for example, you might be happy purchasing futures contracts at $2,500.
But the SEC has yet to grant app
Źródło: https://decrypt.co/79070/vaneck-proshares-pull-ethereum-etf-proposals
