SEC delays Grayscale's Ethereum futures ETF application, still part of Grayscale's plans?

According to a statement released by the U.S. Securities and Exchange Commission (SEC) on Friday, the decision to approve Grayscale's Ethereum futures ETF has been delayed once again, with a new deadline set for 5/30. However, the market believes that this may be an important step for Grayscale to advance its Ethereum spot ETF?

SEC Delays Grayscale Ethereum Futures ETF

The SEC has once again delayed its decision on whether to approve the Grayscale Ethereum Futures, stating that a decision will be made by May 30. The SEC mentioned in a statement that extending the deadline for a decision is appropriate to give the commission enough time to consider the issues raised.

There were rumors a few days ago that the SEC was investigating the Ethereum Foundation, which may be related to the delay in evaluating the Ethereum Futures and Spot ETF.

CoinDesk reported that the Ethereum Foundation is under a mysterious investigation, possibly by the SEC.

Grayscale's Other Intentions?

Bloomberg analyst James suggested that Grayscale's application for an Ethereum Futures ETF is aimed at facilitating the approval of an Ethereum Spot ETF. Grayscale is trying to gauge the SEC's stance and assessment on ETH, which could ultimately impact the decision criteria for the Spot ETF.

The likelihood of the SEC approving an Ethereum Spot ETF before 5/23 is diminishing.