On May 18, Cointelegraph reported that Grayscale had stopped its ETH futures ETF issuance plan due to regulatory warnings from the SEC, while Bitwise revised its filing with the SEC to stop launching any ETH ETF products.

According to previous news, Grayscale stated that it received a letter of opinion from the U.S. Securities and Exchange Commission (SEC), stating that FIL "conforms to the definition of securities" and requiring it to withdraw its application to launch Filecoin (FIL) trust products.