Summary
Grayscale persists in pursuing a spot Ethereum ETF despite regulatory uncertainty. The company amended its proposal, arguing for approval based on CME surveillance and market correlation. Chances of approval are currently low due to concerns raised by US senators, but some experts remain optimistic.
Key Points
1. Grayscale persists in its quest for a spot Ethereum exchange-traded fund (ETF) despite regulatory uncertainty.
2. The company amended its proposal to convert its Ethereum Trust into a spot Ethereum ETF listed on NYSE Arca, citing approval of Ethereum futures ETFs by the SEC.
3. Industry experts remain divided on the approval chances for a spot Ethereum ETF, with some optimistic projections and others highlighting challenges in regulatory clearance.