Ethereum

Spot

According to breaking information, the SEC has postponed its decision on Grayscale's application to convert its Ethereum futures ETF product into a spot product. 
In its application last month, Grayscale notified the SEC of its intention to convert the Grayscale Ethereum Trust (ETHE) product, which has already been traded for a long time, into a spot ETF. This Ethereum trust by Grayscale is known as the world's largest ETH investment product, with approximately $5 billion in assets under management. 
With the response coming within a month or so, the SEC appears to be continuing its unusual reactions to spot ETF applications. 
Bloomberg analysts give a 90% chance that the institution will approve Bitcoin Spot ETF applications in January, and the same analysts argue that if these approvals come, the probability of approval for Ethereum Spot ETFs will also be strengthened. 
In a quirk of the regulatory process, the SEC has approved futures ETFs for both Bitcoin and Ethereum. 
While these are also cryptocurrency ETFs, the underlying assets they contain are not digital assets, only futures contracts that are well understood by derivatives-savvy investors, and they do not directly hold the underlying asset. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-sec-delays-grayscales-ethereum-spot-etf-application/">BREAKING: SEC Delays Grayscale’s Ethereum Spot ETF Application</a>

BREAKING: SEC Delays Grayscale’s Ethereum Spot ETF Application

Bitcoin Sistemi EN

Other articles published on Dec 5, 2023

Grayscale CEO Sonnenshein Shares Thoughts on Spot Bitcoin ETFs

Investor Insights: Why Chainlink LINK, VC Spectra SPCT, and BNB May Be Smart Long-term Picks

What’s the Science of New Humans?

How is Rayn Revolutionizing Financial Management?

Ripple CTO David Schwartz Accuses SEC of Mishandling Debt Box Case

Bitcoin Price Prediction: $42K Breach as US Defense Eyes BTC

Join our free newsletter for daily crypto updates!