Ethereum ETF: Grayscale Boss Optimistic Ahead of Major SEC Decision

Ethereum ETF: Grayscale CEO Michael Sonnenshein remains hopeful ahead of a major SEC decision. He expresses optimism about the approval prospects for an Ethereum ETF, believing that the agency will “do the right thing.” Grayscale recently withdrew its Ethereum futures ETF application, but this move is seen by analysts as a sign that they are not planning to pursue another lawsuit against the SEC. Grayscale had previously scored a significant victory against the agency, leading to the approval of several Bitcoin ETFs. Despite the success of Bitcoin ETFs, some analysts predict that the SEC will reject multiple Ethereum ETF applications in March due to a lack of engagement with ETF issuers. Consensys, a key Ethereum backer headed by Joseph Lubin, has also taken the SEC to court over its attempt to classify Ethereum as a security. While Bitcoin and Ethereum ETFs have started trading in Hong Kong, their debut performance has been underwhelming.