TL;DR
Full Story
Everyone knows the basic story of the Computer virus.
The one the place the Greeks gifted an enormous picket horse to town of Troy stuffed with troopers who jumped out of it as soon as they have been in Troy’s partitions and overtook town.
Effectively, that very same kind of tactic was utilized by Grayscale to get the BTC spot ETFs accepted.
Again in August final 12 months, Grayscale took the SEC to courtroom saying that it was unfair that that they had beforehand accepted the BTC futures ETFs, however wouldn’t settle for the BTC spot ETFs.
Which means that the SEC not actually had a leg to face on on the subject of denying BTC spot ETFs, they usually finally approved 11 of them within the US on tenth Jan, 2024.
But it surely appears Grayscale isn’t taking the identical method for his or her Ethereum spot ETF…at the least not but.
As of Tuesday, Grayscale withdrew their Ethereum futures ETF (and with no ‘futures’ ETF approval, it’s a provided that there might be no ‘spot’ ETF approval).
On one hand, because of this it gained’t go to courtroom proper now, that means the SEC can’t deny the ETH futures ETF via authorized priority.
…then again, that’s as a result of there’s no ETH futures ETF software.
Is that as a result of Grayscale are withdrawing, renewing, and resubmitting a stronger software? Or do they imagine it is going to by no means be accepted they usually’ve withdrawn the appliance for good?
Solely Grayscale is aware of.