Digital currency investment company Grayscale has filed with the Securities and Exchange Commission for a new Ether futures exchange-traded fund (ETF). Importantly, the filing comes after the crypto asset management firm won a major court victory over the US Securities and Exchange Commission (SEC).Grayscale proposes to list and trade shares of the Grayscale Ethereum Futures Trust ETF on the New York Stock Exchange under Arca Rule 8.200-E.The offering is consistent with the Securities Exchange Act of 1934 and a rule submitted by the NYSE to the SEC. The ETF is managed by Grayscale Advisors, also known as the sponsor in the filing.
The news comes just weeks after digital asset management firm Valkyrie filed for an Ether futures ETF with the SEC in mid-August, followed by several other companies filing for ETH futures ETFs. The SEC is set to allow the first ETFs based on Ether futures, bringing high expectations from the Ethereum market. Last month, Grayscale won a major victory against the SEC to turn its over-the-counter Grayscale Bitcoin Trust (GBTC) into a listed spot Bitcoin ETF.In fact, the SEC had rejected its GBTC application, after which Grayscale filed a lawsuit. The court ordered that Grayscale's petition for review be granted and the SEC's order rejecting the GBTC listing application be vacated. Despite not guaranteeing the final listing of the Grayscale spot Bitcoin ETF, this win has also been greeted with enthusiasm by the community.
Apart from this, many other companies have also applied for ETH futures ETFs. There is a lot of enthusiasm for ETH ETFs in the market. Last month, 11 companies simultaneously filed for an Ethereum ETF, with Volatility Shares being the first company to file. After Volatility, Bitwise Asset Management, Roundhill Financial, Van Eck, ProShares and Grayscale Investments also filed. Additionally, Ark Invest and 21Shares have jointly filed as sub-advisers for ARK 21Shares Active Ethereum Futures ETF (ARKZ) and ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY).
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