News on May 12, after Grayscale announced earlier this week that it plans to launch an Ethereum futures ETF, other companies have followed suit. In addition to Direxion, Bitwise Asset Management, Roundhill Investments filed for similar offerings on Wednesday. Instead of holding ether directly, the proposed product would invest in ether futures contracts traded on the Chicago Mercantile Exchange (CME), respectively, according to registration documents. Prior to the May 10th news, Grayscale had applied to the US SEC to register an Ethereum futures ETF and a Bitcoin comprehensive ETF. Yesterday, it was reported that Direxion had submitted an application for an Ethereum ETF to the US SEC.