Grayscale files for ether futures ETF

Grayscale is throwing its hat in the ring for an ether futures exchange-traded fund (ETF).

The ETF, which tracks ether futures, would be another way for Grayscale to get exposure to ether as it awaits a decision on its bitcoin ETF.

Since the ETF will only focus on ether futures, the filing clarifies that it will not “transact in ether and will not be required to retain an ether custodian.”

Other firms, including Ark Invest and 21Shares along with Bitwise and ProShares, have also filed for ether futures ETFs.

Read more: Why potential BTC and ETH ETF approvals would be game-changers

Blockworks previously reported that sources confirmed that the US Securities and Exchange Commission is ready to consider the approval of ether futures ETFs. Previously, reports suggested that the SEC pushed for a pause in introducing these types of products. 

An ether futures ETF approval could come as soon as next month.

The filing comes after Grayscale announced that it was abandoning the rights to Ethereum proof-of-work tokens. 

The decision, according to a press release, came after Grayscale and the relevant service providers determined that both the custodian of the products, as well as the service providers, do not “support the ETHPoW tokens, nor have trading venues with meaningful liquidity developed for the ETHPoW tokens.”

Read more: Grayscale court victory used in arguments for spot ether ETF

Grayscale notched a partial victory against the SEC last month after a panel of judges ruled that the SEC must re-examine Grayscale’s application for a spot bitcoin ETF.

The win comes after Grayscale filed a lawsuit against the SEC over the application rejection back in 2022. 

While the win does not mean that Grayscale was immediately able to convert its Bitcoin Trust (GBTC) to an ETF, it raised hope among those who are awaiting an SEC decision on spot bitcoin ETFs. 

Blackrock, Ark, Fidelity and Franklin Templeton are among the companies looking to launch spot bitcoin ETFs. The SEC, however, delayed its decision on the spot bitcoin ETF applicants until October.


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Source: https://blockworks.co/news/grayscale-ether-futures-etf-sec-bitcoin-victory