Ethereum ETF: Grayscale Boss Optimistic Ahead of Major SEC Decision

, Grayscale recently withdrew its Ethereum futures ETF application after it was delayed in November. According to ETF analyst James Seyffart, it was a Trojan horse filing that was meant to get a 19b-4 order from the SEC.

However, according to multiple analysts, Grayscale's withdrawal likely means that it is not going to pursue another lawsuit against the SEC. Last August, Grayscale scored a massive victory against the agency, which eventually paved the way for the approval of a slew of Bitcoin ETFs in January.Despite the success of Bitcoin ETFs, the consensus appears to be that the SEC will shoot down several Ethereum ETF applications this March based on the complete lack of engagement with ETF issuers.

Recently, key Ethereum backer Consensys, which is helmed by Ethereum co-founder Joseph Lubin, took the SEC to court over its attempt to label the leading altcoin as a security. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.

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