Bloomberg senior ETF analyst James Seyffart called the Ethereum futures exchange-traded fund (ETF) application submitted by Grayscale a “Trojan horse.”
US Securities and Exchange Commission (SEC) 15 November announced that it had postponed the decision on the Ethereum futures (ETH) ETF application submitted by Grayscale. Acting on this postponement news, ETF analyst James Seyffart stated that Grayscale’s forward Ethereum ETF application was an application for spot Ethereum ETF. Trojan horse operation shaped commented.
Ongoing lawsuit between Grayscale and SEC Grayscale’s GBTC fund The request for conversion to spot ETF was found justified by the court. At that time, the judge ordered the SEC to being hypocritical about spot ETFs he accused. Grayscale to SEC, especially between futures and spot Bitcoin ETF what a difference He was persistent in asking.
According to Seyffart, if Grayscale receives approval for the futures Ethereum ETF, this approval will be in the next stage. to convert to spot Ethereum ETF just like in the GBTC case one can use:
Grayscale is playing Chess here, not Checkers. They likely hope to force the SEC to issue a 19b-4 decision on the ETH futures ETF. They do this to point out the SEC’s hypocrisy in deciding between futures and spot, based on the decision in Grayscale’s case.