Investment firm Grayscale Investments has proposed a new application for an Ethereum futures exchange-traded fund (ETF). The fund would track the value of Ethereum futures contracts. Grayscale has already applied for an Ethereum futures ETF, but this application was filed under the Securities Act of 1933 rather than the Investment Company Act of 1940, which it used in the earlier attempt. The reason for the modification is fuzzy, but Grayscale may be attempting to increase its chances of approval as Bitcoin futures ETFs have been approved under both acts. Ethereum is currently trading at $1,639.