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Analyst: Grayscale's ETH futures ETF could pave the way for a spot Ethereum ETF

Analyst: Grayscale’s ETH futures ETF could pave the way for a spot Ethereum ETF

Bloomberg ETF analyst James Seyffart believes that Grayscale Investments’ application for an Ether futures exchange-traded fund (ETF) is a strategic move to push the United States Securities and Exchange Commission (SEC) to approve its spot Ether ETF. Seyffart suggests that if the SEC approves Grayscale’s application, it would give the asset manager leverage to argue for the approval of its spot Ether ETF. On the other hand, if the SEC denies Grayscale’s bid, the company could argue that the SEC is treating Bitcoin and Ether futures ETFs differently. Seyffart sees this as a clever tactic by Grayscale to corner the SEC into a lose-lose situation. Both Seyffart and Scott Johnsson of Van Buren Capital General believe that Grayscale is unlikely to launch the Ether futures ETF but is using it as a means to push for the approval of its spot Ether ETF. The SEC recently delayed its decision on Grayscale’s Ether futures ETF, along with Hashdex’s application to convert its Bitcoin futures ETF into a spot product. BlackRock has also expressed a similar sentiment, arguing that there is no legitimate reason for the SEC to treat cryptocurrency spot and futures ETF applications differently.

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