Grayscale Investments has reportedly submitted a second application for an Ethereum futures exchange-traded fund (ETF) designed to monitor the value of Ethereum Futures contracts.
The investment firm had previously applied for an Ethereum futures ETF, but there is a noticeable difference in the way this one has been filed.
Grayscale Applies For Ethereum Futures ETF Under Different Regulations
According to a recent report, Grayscale submitted a new ETF application to the United States Securities and Exchange Commission (SEC). However, the application was lodged in accordance with the Securities Act of 1933. This serves as the regulatory framework used for filing commodities and spot Bitcoin ETFs.
Meanwhile, Grayscale filed its earlier application for an Ethereum Futures ETF in accordance with the Investment Company Act of 1940. Five other firms have filed applications under this regulatory act, which is the primary framework for most securities-based ETFs.
The reason for Grayscale filing a seperate application under a different act remains uncertain.
However, Bitcoin futures ETFs have received registration and approval under both acts, suggesting that this approach may be an attempt to enhance the likelihood of approval.
At the time of publication, Ethereum’s price stands at $1,639.
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Author: Ciaran Lyons
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