TechFlow news, according to DL News, Grayscale CEO Michael Sonnenshein said Wednesday that the firm will focus on converting its Ethereum Trust—the world's largest Ethereum trust—into a spot exchange-traded product.
"At Grayscale, we've decided to concentrate our efforts on our spot products. That's truly at the core of our DNA," Sonnenshein said. The company is withdrawing applications for certain products, as many futures-based offerings are already available to investors. "Sometimes we file for products, and that doesn't necessarily mean they will come to market," he added. While it's difficult to know the U.S. SEC’s stance on Ethereum, Grayscale remains "optimistic that the SEC will make the right decision for investors."
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