By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Grayscale has pulled out its application for an Ether Futures ETF
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto
Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025
Business Crypto
Moscow Metro Marks 90 Years with Technological Advancements and Heritage Events
Lifestyle World
Senkron Digital Showcases CyberPact Service at GISEC Global 2025
Gulf UAE
Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World
Business Gulf UAE
Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Crypto > Grayscale has pulled out its application for an Ether Futures ETF
Crypto

Grayscale has pulled out its application for an Ether Futures ETF

News Room
Last updated: 2024/05/08 at 5:57 AM
News Room
Share
4 Min Read
SHARE

Grayscale Investments, the world’s largest cryptocurrency asset manager, recently withdrew its application for an Ether futures exchange-traded fund (ETF), causing confusion among analysts. The application, filed in September 2023, proposed an ETF that would track Ether futures contracts on the Chicago Mercantile Exchange (CME) and would have been listed on the New York Stock Exchange. Bloomberg ETF analyst James Seyffart previously speculated that Grayscale might be using the futures ETF as a strategic tool to pressure the SEC to approve a spot Ether ETF, but the sudden withdrawal has left the market puzzled.

The withdrawal comes just weeks before the SEC was set to rule on several spot Ether ETF applications from other companies, including VanEck, ARK 21Shares, and Hashdex. The SEC also announced a delay in its decision regarding the Invesco Galaxy spot Ethereum ETF, with the next deadline set for July 5, 2024. The SEC’s stance on spot Ether ETFs remains unclear, with SEC Chair Gary Gensler offering no specific timeline for a decision in a recent interview with CNBC. The fate of spot Ethereum ETFs now hangs in the balance, as industry experts anticipate a similar batch decision-making process from the SEC, similar to its approach with spot Bitcoin ETFs in January 2023.

With Grayscale’s withdrawal, analysts like James Seyffart have expressed scepticism about the approval of Ethereum ETFs. Seyffart suggested that the current round of Ethereum ETF applications might ultimately be denied. The sudden shift in Grayscale’s decision has left analysts and the market speculating about potential reasons for the withdrawal. Some have speculated that the SEC may have spoken with Grayscale about the application, leading to their decision to withdraw. However, without concrete information, the reasons behind the withdrawal remain uncertain, leaving the future of Ether ETFs in limbo.

Despite the uncertainty surrounding the approval of Ethereum ETFs, companies like Invesco Galaxy, BlackRock, and Fidelity are still expected to submit applications in the coming months. Industry experts anticipate a similar decision-making process from the SEC, which could potentially result in the denial of these applications. The withdrawal of Grayscale’s ETF application has added to the complexity of the situation, leaving stakeholders in the cryptocurrency market unsure about the prospects of Ether ETFs in the near future. As the SEC continues to review these applications, the market will be closely watching for any developments that could shed light on the future of Ether ETFs.

In conclusion, Grayscale Investments’ withdrawal of its Ether futures ETF application has added uncertainty to the approval of Ethereum ETFs by the SEC. Analysts are skeptical about the approval of these ETFs, especially after the sudden withdrawal of Grayscale’s application. The SEC’s stance on spot Ether ETFs remains unclear, leaving the fate of these products up in the air. With other companies still expected to submit applications for Ethereum ETFs, the market is eagerly anticipating the SEC’s decisions in the coming months. The withdrawal of Grayscale’s application has raised questions and speculation within the cryptocurrency industry, highlighting the complexities of regulation and approval processes for ETFs in the digital asset space.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room May 8, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Today in Forex: US Dollar Holds onto Recent Gains as Markets Digest Federal Reserve Remarks
Next Article Weather in the UAE: Some areas may experience rainfall; expect a fair to partly cloudy day ahead
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports June 10, 2025
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE May 27, 2025
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle May 23, 2025
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World May 22, 2025

You Might also Like

Crypto

Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide

May 22, 2025
BusinessCrypto

Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025

May 20, 2025
BusinessCrypto

RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain

April 14, 2025
BusinessCrypto

Forbes Lists Bitget Amongst The World’s Most Trustworthy Crypto Exchanges

February 1, 2025
BusinessCrypto

Bitget Leverages AI Algorithms for Token Listing with the Launch of Bitget Seed

January 27, 2025
BusinessCrypto

Bitget to List Official TRUMP Meme Token for Spot Trading

January 23, 2025
BusinessCrypto

Bitget LaunchX to Support Jambo’s $5 Million Fundraising for Satellite Launch Program

January 18, 2025
BusinessCrypto

Bitget Unveils Over $5 Billion Worth of BGB Token Burn in New Whitepaper

December 28, 2024
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?