Grayscale Abandons Ethereum Futures ETF Plan on the Eve of SEC Decision

The proposal submitted by Grayscale on September 19, 2023, aimed to list the Grayscale Ethereum Futures Trust on the New York Stock Exchange. However, on May 7th, this cryptocurrency asset management company chose to withdraw the application, a decision that surprised many. Bloomberg ETF analyst James Seyffart, who previously speculated that Grayscale might use futures ETF as a leverage strategy to promote the approval of its ETH spot ETF, expressed confusion about the timing of the withdrawal.