According to Decrypt: Grayscale Investments has filed an application with the U.S. Securities and Exchange Commission (SEC) to create a new crypto exchange-traded fund (ETF). This ETF, however, would deal in Ethereum futures, rather than Bitcoin spot like many other applications currently under review by the regulatory body. The documents Grayscale filed on Tuesday clarify that the proposed fund would not transact in Ether and would not necessitate an Ether custodian. The company's application comes in the wake of a positive ruling last month where a federal judge overturned the SEC's denial of Grayscale’s request to convert its Bitcoin trust into a spot ETF. As Grayscale waits for the approval of its Bitcoin ETF, it anticipates that the Ethereum futures ETF will receive approval from the SEC. The SEC initially approved a Bitcoin futures ETF in 2021, allowing investors to speculate on future digital asset prices. Investors show a strong appetite for spot crypto ETFs, and numerous such applications are currently under the SEC's evaluation, including one from the world's largest asset manager, BlackRock. A crypto ETF would offer traditional investors a more secure way to get involved with the asset. ETFs are financial instruments that allow people to buy shares mirroring the price of an underlying asset. Therefore, a Bitcoin ETF would let investors involve themselves in the asset without having to worry about the storage and protection of their cryptocurrency holdings.