Come on now bro. Don't just post this without providing your take on it.
Some are saying it bearish ETH (guessing you lean this way), some saying it could mean grayscale withdrew it cos they know the spot ETF is gonna get approved. Maybe not this month, but for the blackrock deadline. Some say it doesn't mean anything.
https://www.dlnews.com/articles/regulation/grayscale-to-focus-on-spot-ethereum-products-says-ceo/Grayscale will focus energies on spot Ethereum products, CEO says- Grayscale Investments has withdrawn its application to provide an Ethereum futures ETF.
- Michael Sonneshein, Grayscale’s CEO, said he is optimistic that the SEC will approve the firm’s application to convert its Ethereum trust to a spot ETF
Grayscale Investments will focus on converting its Ethereum trust — the world’s largest — to spot exchange-traded products, CEO Michael Sonnenshein said on Wednesday.
“At Grayscale we decided to focus our energy on our spot products. That’s really core to our DNA,” he said during an event in London that was hosted by the Financial Times.
On Tuesday, media reported that the crypto-native asset manager had withdrawn its application to the Securities and Exchange Commission to provide an Ether futures ETF.
It had filed the application in October.
Sonnenshein said the asset manager was withdrawing the application because a number of futures products are already available for investors.
As DL News has reported, VanEck’s EFUT and ProShares’ EETH dominate the brutally competitive Ethereum ETF field, accounting for over 90% of total trading volume at launch.
“Sometimes we will file for a product. That doesn’t necessarily mean it’s going to come to market,” Sonnenshein said