Is an Ethereum Spot ETF Still Possible?

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Everyone knows the traditional story of the Computer virus.

The one the place the Greeks gifted an enormous wood horse to the town of Troy crammed with troopers who jumped out of it as soon as they have been in Troy’s partitions and overtook the town.

Nicely, that very same kind of tactic was utilized by Grayscale to get the BTC spot ETFs accredited.

Again in August final yr, Grayscale took the SEC to court docket saying that it was unfair that that they had beforehand accredited the BTC futures ETFs, however wouldn’t settle for the BTC spot ETFs.

And so they received!

Which means that the SEC not actually had a leg to face on close to denying BTC spot ETFs, they usually finally accredited 11 of them within the US on tenth Jan, 2024.

But it surely appears Grayscale isn’t taking the identical strategy for his or her Ethereum spot ETF…a minimum of not but.

As of Tuesday, Grayscale withdrew their Ethereum futures ETF (and with no ‘futures’ ETF approval, it’s a on condition that there can be no ‘spot’ ETF approval).

On one hand, because of this it received’t go to court docket proper now, that means the SEC can’t deny the ETH futures ETF by authorized priority.

…then again, that’s as a result of there’s no ETH futures ETF software.

Is that as a result of Grayscale are withdrawing, renewing, and resubmitting a stronger software? Or do they imagine it should by no means be accredited they usually’ve withdrawn the appliance for good?

Solely Grayscale is aware of.