📰 Yello Paradisers! Here’s the Scoop:
Grayscale Investments is back at it again, this time with a fresh application for an Ethereum futures ETF. But hold on, this isn’t just a repeat of their previous attempt; they’ve switched up the game by filing under the Securities Act of 1933.
📰 Why the Regulatory Hoopla?
You might be wondering why Grayscale is bothering with different regulations. Well, they initially filed under the Investment Company Act of 1940, but this new application is under the Securities Act of 1933, which is generally used for commodities and Bitcoin ETFs. It’s like they’re trying every door to see which one opens!
📰 The SEC’s Silent Treatment
The SEC hasn’t spilled any beans yet, but they’re inching closer to giving the green light for Ethereum futures-based ETFs. With six applications on the table, it’s anyone’s guess who’ll get the first nod. Could it be Grayscale’s turn?
📰 Ethereum’s Current Standings
As of now, Ethereum is trading at $1,633. While this doesn’t directly affect the ETF application, it’s always good to know where the crypto market stands, right?
📰 What’s the Buzz Around Approvals?
October could be a big month for Ethereum ETFs. Sources say the SEC might finally break its silence and start handing out approvals. Companies like Ether Strategy ETF, Bitwise, and VanEck are all in the running, along with Grayscale.
📰 Final Thoughts
Grayscale’s new application could be a strategic move to increase their chances of approval. With the SEC nearing a decision, the crypto community is on the edge of their seats. Stay tuned for more updates, Paradisers!
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