Grayscale Investments has reportedly submitted a second application for an Ethereum futures exchange-traded fund (ETF) designed to monitor the value of Ethereum Futures contracts.
The investment firm had previously applied for an Ethereum futures ETF, but there is a noticeable difference in the way this one has been filed.
Grayscale Applies For Ethereum Futures ETF Under Different Regulations
According to a recent report, Grayscale submitted a new ETF application to the United States Securities and Exchange Commission (SEC). However, the application was filed under the Securities Act of 1933. This is the same regulatory framework used for filing commodities and spot Bitcoin ETFs.
Yet, Grayscale’s previous application for an Ethereum Futures ETF was filed under the Investment Company Act of 1940. Five other firms have filed applications under this regulatory act, which is the primary framework for most securities-based ETFs.
On August 18, BeInCrypto reported that the SEC is approaching approval for Ethereum futures-based ETFs. Six applications have been filed, and it appears that the SEC is unlikely to obstruct the process. The first products could potentially be approved in October.
However, the SEC has not issued any comments on the matter. It also remains unclear which firms will receive the first approvals.
This is a developing story and more information will be added as it becomes available.
