Grayscale CEO Pushes for Spot Ethereum ETF Amid Regulatory Uncertainties

Grayscale CEO Michael Sonnenshien remains optimistic about a Spot Ethereum ETF despite uncertainties over SEC approval. Grayscale withdrew its Ethereum Futures ETF application, focusing instead on converting its Ethereum Trust (ETHE). Sonnenshein highlighted the commitment of Grayscale to spot products, similar to their Bitcoin Trust GBTC conversion. The futures Ethereum ETF market is dominated by VanEck’s EFUT and ProShare’s EETH. Meanwhile, Grayscale and major financial players applied for a spot in Ethereum ETF despite the SEC’s delay in the Invesco Galaxy Ethereum ETF decision. Now, the market waits for the SEC’s stance on Ethereum’s ‘security’ status.