At Grayscale, which withdrew its previous Ether futures ETF application to the US Securities and Exchange Commission (SEC) on Tuesday, CEO Michael Sonnenshein clarified this issue.

Speaking at a conference organized by the Financial Times in London, Sonnenshein said they would focus on spot products and said:

“At Grayscale we decided to focus our energy on our spot products. That’s really core to our DNA. Sometimes we will file for a product. That doesn’t necessarily mean it’s going to come to market”

He also stated that one of the reasons for the withdrawal was that similar products were on the market.

“We are optimistic that the SEC will do the right thing”

Answering a question about Ethereum spot ETFs, Grayscale CEO said, “We are just a couple of weeks away from seeing the SEC’s first thinking on spot ethereum products and we are optimistic that the SEC will do the right thing by investors.”