Grayscale Withdraws Ethereum Futures ETF Application... Perplexing

rayscale has announced the abandonment of its Ethereum futures ETF application. The original plan was for the SEC to make a final decision on May 30, but circumstances have changed. Grayscale initially submitted the 19b-4 application on September 19, 2023, aiming to list its Ethereum futures ETF on the New York Stock Exchange. Initially, it was widely believed that this was a strategy by Grayscale to push the SEC to approve its Ethereum spot ETF by introducing the futures ETF. However, the situation seems to have shifted. The SEC will be forced to make a decision on at least one Ethereum ETF spot application by May 23, just over two weeks away.

Does Grayscale's decision to abandon the Ethereum futures ETF application imply a strategic adjustment?