On the back of its partial victory against the US Securities and Exchange Commission (SEC), Grayscale has applied to the Commission for another Ethereum Futures Exchange-Traded Fund (ETF).

Why Another ETH Futures ETF?

According to a report by the Wall Street Journal (WSJ), Grayscale Investments filed this application on September 20. This development may come as a surprise to many, considering that the asset manager had filed an earlier application to offer this same investment vehicle. As such, this will represent its third application (Grayscale withdrew its first application due to SEC concerns before filing another one in July).

There is, however, a distinction between both applications, as WSJ noted. The latest application is filed under the Securities Act of 1933, a regulation …