According to James Seyffart, one of the leading ETF analysts, this was essentially a"Trojan horse" filing since it was supposed to create the same circumstances that allowed Grayscale to win the GBTC lawsuit.
Seyffart seems to be perplexed by Grayscale's recent move."In my mind might as well make the SEC write up an approval or denial for an ETH futures ETF and go from there?" he suggested. The analyst added that Grayscale might have had a conversation with the U.S. Securities and Exchange Commission, which prompted their decision to withdraw. , Nete Geraci predicted that Grayscale would take the SEC to court again if it were to deny its spot Ethereum ETF application.
However, Eric Balchunas, Bloomberg's senior ETF analyst, has noted that the recent move is a good sign that Grayscale is not going to pursue another lawsuit against the agency. 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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