Grayscale urges SEC to approve all Bitcoin ETFs simultaneously
Grayscale's ETF was previously knocked back by the SEC and it wants it and competing ETFs approved together so none have an advantage. Crypto fund manager Grayscale is urging the Securities and Exchange Commission (SEC) to approve all proposed spot Bitcoin (BTC) exchange-traded funds (ETFs) at the same time to avoid one having an advantage. A July 27 post by Grayscale chief legal officer Craig Salm said its legal team submitted a letter regarding eight spot Bitcoin ETF filings — including its own — arguing the SEC shouldn’t pick “winners and losers” and instead make a fair and orderly decision. The letter claimed the SEC could approve the spot ETFs based on its approvals for Bitcoin futures ETFs saying the two fund types are “inextricably linked.” Grayscale added recent surveillance sharing agreements (SSAs) between Coinbase and the spot ETF providers are “not a new idea” and claimed they would not meet the SEC’s standards. The SEC should approve spot #bitcoin ETFs to trade in ...