Grayscale and Bitwise Step Back from Launching Ether Futures ETFs

Crypto asset managers Grayscale and Bitwise have suspended their plans for Ethereum futures exchange-traded funds (ETFs) due to increased regulatory scrutiny in the United States. Grayscale filed an amendment on May 17 to remove references to its Ethereum futures ETF from its Securities and Exchange Commission (SEC) filing. The SEC had asked Grayscale to withdraw its application for a Filecoin Trust, warning that the underlying asset, Filecoin, qualified as a security. Grayscale responded by stating the asset did not qualify as such. Meanwhile, Bitwise withdrew its application for an Ether-based futures ETF. The crypto asset manager said it no longer intended to seek the fund’s effectiveness. In 2021, a Bitcoin-based futures ETF was launched, leading many to believe that a spot crypto ETF was on the way. However, almost two years later, increased regulatory scrutiny has made regulators more skeptical about such products.

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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