[ad_1]
Grayscale Investments has reportedly submitted a second utility for an Ethereum futures exchange-traded fund (ETF) designed to observe the worth of Ethereum Futures contracts.
The funding agency had beforehand utilized for an Ethereum futures ETF, however there’s a noticeable distinction in the best way this one has been filed.
Grayscale Applies For Ethereum Futures ETF Underneath Totally different Rules
In response to a latest report, Grayscale submitted a brand new ETF utility to the US Securities and Alternate Fee (SEC). Nonetheless, the applying was lodged in accordance with the Securities Act of 1933. This serves because the regulatory framework used for submitting commodities and spot Bitcoin ETFs.
In the meantime, Grayscale filed its earlier utility for an Ethereum Futures ETF in accordance with the Funding Firm Act of 1940. 5 different companies have filed purposes underneath this regulatory act, which is the first framework for many securities-based ETFs.
The explanation for Grayscale submitting a seperate utility underneath a special act stays unsure.
Nonetheless, Bitcoin futures ETFs have obtained registration and approval underneath each acts, suggesting that this approach could also be an attempt to boost the likelihood of approval.
On the time of publication, Ethereum’s worth stands at $1,639.
![Ethereum Price Chart 1 Month. Source: BeInCrypto](https://s32659.pcdn.co/wp-content/uploads/2023/09/Screen-Shot-2023-09-20-at-8.55.51-am-850x326.png)
Hypothesis Mounts as SEC Nears Approval for Ethereum Futures ETF
On August 18, BeInCrypto reported that the SEC is approaching approval for Ethereum futures-based ETFs.
Six purposes have been submitted, and it appears that evidently the SEC is inclined to not hinder the progress. In response to sources acquainted with the matter, approval for the product could doubtlessly come via in October.
The businesses in search of approval embody Ether Technique ETF, Bitwise Ethereum Technique ETF, Roundhill Ether Technique ETF, VanEck’s Ethereum Technique ETF, ProShares Brief Ether Technique ETF, and the Grayscale Ethereum Futures ETF.
Nonetheless, the SEC has not issued any feedback on the matter. It additionally stays unclear which companies will obtain the primary approvals.
Disclaimer
In adherence to the Belief Challenge pointers, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nonetheless, readers are suggested to confirm information independently and seek the advice of with knowledgeable earlier than making any choices based mostly on this content material.
[ad_2]
Source link