VanEck and ProShares Abruptly Withdraw Ethereum Futures ETF Proposal

Investment firms VanEck and ProShares abruptly withdrew their application to the U.S. Securities and Exchange Commission for approval of an Ethereum futures ETF just two days after submitting it.

Eric Balchunas, senior ETF analyst at Bloomberg, speculated that the sudden withdrawal could mean that the SEC spoke to the two companies and told them that it was unlikely to approve an Ethereum ETF futures fund. In a speech earlier this month, SEC Chairman Gary Gensler said he would be more optimistic about a Bitcoin ETF that only traded Bitcoin futures contracts.