Grayscale and Bitwise Step Back from Ether Futures ETF Proposals

Grayscale and Bitwise halt ETH futures ETF plans due to SEC scrutiny.

Grayscale removes Ethereum futures ETF mentions from its SEC filing, following a warning to withdraw its Filecoin Trust application. Bitwise withdraws its application for an Ether-based futures ETF, stating they no longer intend to seek effectiveness for the fund. The move comes amid growing scepticism from regulators towards crypto ETF products, despite the debut of a Bitcoin-based futures ETF in late 2021. The industry awaits further developments regarding the possibility of a spot crypto ETF.