NYSE Arca withdraws Grayscale’s futures ETH ETF 19-b4 filing

NYSE Arca has withdrawn Grayscale’s futures Ethereum ETF 19-b4 filing, which could have significant implications for spot Ethereum ETFs. The withdrawal occurred on May 3, just days before the SEC notice, and the regulator was supposed to make a decision on the proposed rule change by May 30. Grayscale has not commented on the withdrawal. While Grayscale’s pending futures Ethereum ETF is not directly related to its attempt to convert the Grayscale Ethereum Trust (ETHE) to a spot ETF, the two filings are implicitly connected. The withdrawal has led to some confusion, with experts questioning why Grayscale would withdraw the filing when it could potentially help their case. Some analysts speculate that the SEC may have convinced Grayscale to drop the application through their discussions, while others see it as a strategic move to appease the SEC while sacrificing options for lawsuits against the agency.