The SEC has postponed the deadline for Grayscale Investments’ Ethereum Futures Trust ETF application to May 30, 2024.
Based on a document released by the SEC, the decision was made to allow enough time for the Commission to carefully consider the proposal.
This move was not surprising to Bloomberg stock analyst James Seyffart. Grayscale Investments had filed an application with the SEC in September 2023 for an exchange-traded fund based on CME-traded Ethereum futures.
On January 10, 2024, the SEC approved all 11 applications for spot Bitcoin ETFs, which sparked interest in launching ETFs based on the second largest cryptocurrency by market capitalization. In early March, Grayscale and Coinbase discussed with the SEC the possibility of converting ETHE to a spot Ethereum ETF.
Other companies, such as Franklin Templeton, VanEck, BlackRock, Fidelity, and Invesco with Galaxy, are also competing to launch the fund.
