Grayscale Files for Spot Ethereum ETF, Seeks Approval Amid Bitcoin Optimism and Crypto Rally
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Grayscale filed for an Ethereum spot ETF, starting a 240-day review process by the SEC.
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Grayscale's Ethereum ETF filing comes as the SEC is expected to approve Bitcoin ETFs in January.
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Crypto prices have surged in October amid anticipation of ETF approvals, with Bitcoin up 27% and Ethereum up 7%.
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While the SEC has rejected Bitcoin spot ETFs before, a recent court ruling opened the door to approvals.
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The SEC has already approved Bitcoin and Ethereum futures ETFs, though spot ETFs are seen as more significant.