ETH futures ETF: we still have to wait
There Securities Commission (SEC) from the USA received a expansion regarding the decision he should makeETH futures ETF presented by Grayscale Investments.
The request has been submitted last Septemberwith the aim of creating a fund that should allow investors to “bet” on Ethereum through a new “futures” financial instrument.
An operation of this type, dedicated to the second most capitalized crypto asset, follows the path traced by Bitcoin in the trading world, and as with BTC, the SEC’s strategy seems to be to “buy time” as much as possible.
“The commission considers it appropriate determine a longer period within which to act on the proposed rule change so that we have sufficient time to consider its factuality,” the SEC said in official note.
Long way to go for BTC and ETH ETFs
Grayscale request is only one of many requests received by the SEC for a year already, and as we know, especially those on the Bitcoin side represented by the largest American institutions are burdening, primarily Black rock.
The ETF, which represents a traditional investment vehicle, can represent a new driving force for the economy of Bitcoin and all cryptocurrencies, unlocking a large amount of capital coming from traditional financial institutions. However, the SEC for about ten years continues to block its approval.
However, the problem is slightly different for “futures” ETFs, since some have already been approved, but only in relation to Bitcoin. Exactly on that, in fact, realities such as leverage ProShares, VanEck, Bitwise, Valkyrie, Kelly and Volshareswith its calls for a new ETH-based product.
Grayscale in particular is now used to discuss with the SEC from a regulatory point of view, starting with the famous request for converting a GBTC trust into an ETFblocked by the SEC and then questioned by one conviction in courtlast August.