Grayscale Investments files for new ether futures ETF
Quick Take
- The news comes just a few weeks after Grayscale scored a win over the U.S. Securities and Exchange Commission in its ongoing application for a spot bitcoin ETF, with a judge ruling that regulator must re-review the proposal.
Grayscale Investments, the crypto asset manager, filed for a new exchange-traded fund that tracks ether futures on Tuesday, according to a Wall Street Journal report.
The news comes just a few weeks after Grayscale scored a win over the U.S. Securities and Exchange Commission in its ongoing application for a spot bitcoin ETF, with a judge ruling that regulator must re-review the proposal.
The company’s latest filing with the SEC comes under the Securities Act of 1933, the framework governing commodities and spot bitcoin ETFs, according to the WSJ.
RELATED INDICES
Grayscale had previously filed for a separate ether futures ETF under the Investment Company Act of 1940, the regulation under which most securities-based ETFs are registered. The WSJ noted that the distinction is notable in that the SEC has approved bitcoin futures ETFs registered under both acts before. Indeed, the agency approved two leveraged bitcoin ETFs proposed by BITX as recently as June.
A flurry of giant asset managers filed for crypto ETFs over the summer, including the likes of BlackRock, Franklin Templeton and WisdomTree.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
