Crypto asset supervisor Grayscale Investments has withdrawn its utility for an Ethereum Futures Belief with the U.S. Securities and Commerce Commission (SEC).

In a filing on Tuesday, the SEC smartly-known that Grayscale had withdrawn its utility on Would possibly perhaps 3 after the preliminary utility became filed on Sept. 19, 2023. The SEC has delayed issuing a name on whether to approve or convey the utility three events already, with the final decision due on Would possibly perhaps 30.

“This became if truth be told a malicious program filing in my seek info from, in clarify to make the identical situations that allowed Grayscale to receive the GBTC lawsuit,” said James Seyffart, a Bloomberg ETF analyst, in a put up on X.

On the opposite hand, he expressed confusion over the explanation that Grayscale would prematurely withdraw its utility for an ether futures ETF, speculating that within conversations between executives at Grayscale and the regulator would possibly presumably presumably want spurred the decision.

“In the event you don’t want to piss off the SEC, withdrawing and re-filing is much less work for the SEC,” said Seyyfart. “However at the identical time it intention there’s no methodology for Grayscale or someone to sue now.”

Sentiment round a pickle ether approval has grew to become extra and further detrimental, as Polymarket reveals that only 7% of market individuals factor in a pickle ether ETF shall be common by Would possibly perhaps 31 — the final slash-off date for the SEC to approve applications from VanEck and Ark 21Shares.