DCG's flagship Grayscale continues to print money and seeks approval for a futures ETF.

Despite the uncertain situation of its parent company, Grayscale, a subsidiary of DCG, continues to print money. According to The Block, Grayscale brought in $41.92 million in July from its flagship Bitcoin and Ethereum funds, generating $278 million in revenue for the company since the beginning of the year.

Grayscale Seeks Opportunity for ETF

According to a tweet by Bloomberg ETF analyst Eric Balchunas, there are currently 6 companies that have submitted applications for ETH futures ETFs, including Grayscale, which resubmitted their application on August 1.

Here's fresh update of the Ether Futures ETF Race, which now has SIX in the running.. nice job by @JSeyff for putting together so quickly pic.twitter.com/G1rwwfaFoS

— Eric Balchunas (@EricBalchunas) August 1, 2023

Grayscale has been wanting to convert its flagship fund GBTC into a Bitcoin spot ETF, but has been consistently rejected by the SEC. Grayscale has also filed a lawsuit against the SEC, and a court decision may be made in Q3.

While pursuing the lawsuit, Grayscale has simultaneously submitted new ETF funds to the SEC, planning to list on the New York Stock Exchange Arca, Inc. One of these is the Grayscale Ethereum Futures ETF, ETHG. Through these various fund applications, Grayscale hopes to increase its market share and avoid being solely focused on the legal battle with the SEC.