Grayscale has stopped its ETH futures ETF plans after a warning from the SEC, while Bitwise amended its SEC filing to halt any launch of Ether ETF products.
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SEC believes Filecoin is a security, Grayscale warns investors
The regulator has asked Grayscale to withdraw its application for a Filecoin Trust product, saying its underlying asset "meets the definition of a security."
SEC believes Filecoin is a security, Grayscale warns investors
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The United States Securities and Exchange Commission (SEC) believes Filecoin’s native FIL token is a security, crypto asset manager Grayscale Investments has revealed.
According to the May 17 announcement, Grayscale lodged an application with the regulator to launch a Filecoin Trust product on April 14, which would provide investors with indirect exposure to the underlying FIL token.
In a comment letter from SEC staff on May 16, the regulator then warned Grayscale that FIL “meets the definition of a security” under federal law and asked them to withdraw their application for the Trust product.
Grayscale stated that under its view, Filecoin is not a security and will be sending an explanation to the SEC for its reasoning.
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