On the eve of Bitcoin’s SEC approval, why did Grayscale withdraw its Ethereum futures ETF application #bitcoin #bitcoin #blockchain #Ethereum #cryptocurrency #virtual currency #currency circle #stock market

Hello everyone, this is Bitcoin market analysis, hot spots in the currency circle, and interpretation of major financial events. Today I want to talk to you about why Grayscale withdrew its Ethereum futures ETF application on the eve of SEC approval.
After Grayscale Investments, the world’s largest crypto asset manager, withdrew its application for an Ethereum futures ETF to the U.S. Securities and Exchange Commission (SEC), experts inside and outside the industry are trying to decipher the underlying reasons behind the move. Since Grayscale first submitted its application on September 19, 2023, the SEC's approval process of the document has been delayed many times. On November 15 and December 18 last year, and on March 22 this year, it stated that it needed more time. Review proposals in depth. Although Grayscale did not clearly provide specific reasons for withdrawing the application, this action undoubtedly triggered widespread speculation in the market.