Grayscale withdrew its application for a futures-based Ethereum ETF in September 2023. The company’s spot Ethereum ETF application, which was highly anticipated by the market for approval or rejection, remains in effect.

It is not yet known why the futures ETF was withdrawn. ETF experts also call the situation “interesting”. Bloomberg ETF analyst James Seyffart said, “This is interesting. Grayscale just withdrew their 19b-4 filing for an Ethereum futures ETF. This was essentially a trojan horse filing in my view, in order to create the same circumstances that allowed Grayscale to win the GBTC lawsuit (approve futures deny spot).”

“Idk why they’d do this honestly,” Seyffart said, adding that Grayscale may have met with the SEC and was convinced to withdraw the application with the information it received.

More coming…