Grayscale CEO: The company will focus on spot Ethereum products
On May 9th, GrayScale Investments CEO Michael Sonnenshein stated at an event hosted by the Financial Times in London that the company will focus on converting its Ethereum Trust Fund into a spot ETF product; the company is withdrawing the application as many futures products are already available to investors; sometimes we apply for a product, which does not necessarily mean that it will enter the market.
Sonnenshein said that although it is difficult to know the US SEC's view on Ethereum, GrayScale is optimistic that the SEC will make the right decision for investors. GrayScale's Ethereum Trust is already a company that submits reports to the SEC. We submit 10-K and 10-Q (documents disclosed to the SEC), and we have always been a company that promotes the inclusion of cryptocurrencies in further regulatory frameworks.
Yesterday, GrayScale withdrew its Ethereum futures ETF application from the US SEC.
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