Crypto hedge fund Grayscale is looking to launch a new exchange-traded fund tracking ether futures, according to a report by Finance Feeds citing a US Securities and Exchange Commission (SEC) filing made on 19 September.

Grayscale proposed the listing and trading of shares for the Grayscale Ethereum Futures Trust ETF under the New York Stock Exchange Arca Rule 8.200-E, which aligns with the provisions of the Securities Exchange Act of 1934 and a rule change submitted by NYSE to the SEC, rather than the more usual Investment Company Act of 1940 route to approval.

With US regulators proving reluctant to approve a spot bitcoin ETF, many applicants have turned their focus to products offering exposure to the crypto futures market, bitcoin miners, or companies that hold crypto on their balance sheets, with six entities having so far filed ether ETF applications with the agency.

As well as Grayscale's fund, five other ether ETFs are seeking SEC approval, one each from Bitwise, VanEck, and Roundhill, and two from ProShares.