Grayscale Pulls Ethereum Futures ETF Application; Milei Moneda Surges To New Heights On Presale

Grayscale’s abrupt withdrawal of its Ether futures ETF proposal, documented in a May 3 SEC filing, triggers speculation and scrutiny. Following the SEC’s green light on ether futures ETFs in 2023, the move raises doubts amid pending spot ether ETF decisions. Analysts weigh implications while also spotlighting Milei Moneda ($MEDA) as a standout cryptocurrency amidst market turbulence.

Economize Like Milei: Invest in $MEDA!

Grayscale’s Ether ETF Withdrawal: Implications and Speculation

Grayscale’s proposal to list an Ether futures ETF was withdrawn without any explanation given, as shown in an SEC filing on May 3. However, the application for the Grayscale Ethereum Futures Trust ETF, which had been filed by NYSE Arca in September of the year before, was withdrawn after the concerned authority did not respond to it. 

The SEC’s approval of ether futures ETFs in October 2023 brings out this point, but Grayscale’s withdrawal raises more questions, particularly before the SEC’s decision on spot ether ETF applications scheduled for May 23. 

At first, analysts hypothesized that Grayscale would use the ETF as an argument against the SEC’s decision, but now, with the withdrawal of the application, analysts don’t see many options if the SEC denies the approval of the spot Ether ETF. 

However, this is not a conclusive sign, as the SEC Chair Gary Gensler has said that the SEC is still weighing applications for spot Ether ETFs. Based on this, analysts expect ETH’s altcoin price to drop to $2,462 by June.

Milei Moneda: The Best Cryptocurrency Pick Amid Bearish ETH Signals

Milei Moneda is the first meme coin in the cryptocurrency market that perfectly combines humor, politics, and blockchain technology into one entity. Inspired by the beloved and renowned Argentine president, Javier Milei is the project’s underlying meaning of rebellion and innovation. 

While Milei is not a traditional politician, he vigorously supports economic freedom and even suggests including cryptocurrencies in people’s daily lives. Through Milei Moneda, investors travel into the engrossing realm of Mileinomics. 

The token’s deflationary model, as well as the coolest NFTs that are exclusive, unlike other cryptos, gives holders access to voting rights, staking rewards, content creation, and other exclusive opportunities, making $MEDA one of the best coins to invest in. 

Milei Moneda has a locked liquidity pool, smart contract audits, and an account manager across social media platforms. The meme coin is currently in Stage 3 of the presale at $0.015. $MEDA’s launch on Uniswap on May 21, 2024, at a DeFi coin price of $0.020, is a starting point for investors to explore and benefit from one of the best altcoins in 2024.

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