According to breaking information, the SEC has postponed its decision on Grayscale’s application to convert its Ethereum futures ETF product into a spot product.
In its application last month, Grayscale notified the SEC of its intention to convert the Grayscale Ethereum Trust (ETHE) product, which has already been traded for a long time, into a spot ETF. This Ethereum trust by Grayscale is known as the world’s largest ETH investment product, with approximately $5 billion in assets under management.
With the response coming within a month or so, the SEC appears to be continuing its unusual reactions to spot ETF applications.
Bloomberg analysts give a 90% chance that the institution will approve Bitcoin Spot ETF applications in January, and the same analysts argue that if these approvals come, the probability of approval for Ethereum Spot ETFs will also be strengthened.
In a quirk of the regulatory process, the SEC has approved futures ETFs for both Bitcoin and Ethereum.
While these are also cryptocurrency ETFs, the underlying assets they contain are not digital assets, only futures contracts that are well understood by derivatives-savvy investors, and they do not directly hold the underlying asset.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!