Grayscale applies for new Ethereum futures ETF

• Grayscale has submitted a filing for a new Ethereum futures exchange-traded fund (ETF) under the Securities Act of 1933.
• This filing is distinct from Grayscale's previous attempts at an Ethereum futures ETF under the Investment Company Act of 1940.
• The U.S. Securities and Exchange Commission (SEC) has approved Bitcoin futures ETFs under both the 1933 and 1940 Acts, making Ethereum futures ETFs a viable pursuit for asset managers.
• Multiple asset managers, including Volatility Shares, Bitwise, ProShares, VanEck, Roundhill, Valkyrie Investments, and Hashdex, have applied for Ethereum futures ETFs.
• Grayscale is also pursuing a Bitcoin spot ETF and plans to convert its existing GBTC fund into a spot Bitcoin ETF.
• A legal victory in August may force the SEC to review Grayscale's application, but it does not guarantee approval.
• Other firms are also pursuing Bitcoin spot ETFs, including BlackRock, with Grayscale's application differing from BlackRock's as it concerns an existing fund.

The sentiment in the article is generally optimistic, highlighting the potential for Ethereum futures ETFs and Grayscale's pursuit of both Ethereum and Bitcoin ETFs. However, it also acknowledges that approval is not guaranteed and that other firms are closely pursuing similar ETFs.