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HomeBitcoinBreaking: Grayscale Releases Comment Letter On Bitcoin ETFs To US SEC

Breaking: Grayscale Releases Comment Letter On Bitcoin ETFs To US SEC

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Crypto Market: Grayscale had on Thursday sent out a comment letter to the U.S. Securities and Exchange Commission (SEC) in relation to the spot Bitcoin ETF filings from companies including the Grayscale Bitcoin Trust (GBTC). The letter pertains to Grayscale as well as seven other spot bitcoin ETF filings with the surveillance sharing agreements (SSAs). Interestingly, the company reiterated its argument that the SEC already has enough reason and powers to approve the spot Bitcoin ETFs considering the previous approval of the Bitcoin futures ETFs.

Also Read: Michael Saylor’s MicroStrategy Buys Another 12,333 Bitcoins, Bull Run On?

Grayscale: Bitcoin ETF Approvals Should Be Fair

The company published the letter which detailed its position on the recent developments around Bitcoin ETF filings with the US SEC. The letter also mentions the Coinbase surveillance sharing agreements from the seven filings. However, it flagged the US SEC’s previous comment that questioned the relevance of pricing data produced by “unregulated bitcoin trading venues,” which in this case is the crypto exchange Coinbase.

“The SEC is already in a position to approve spot bitcoin ETFs based on its previous approval of bitcoin futures ETFs. The SEC’s actions related to bitcoin ETFs should be made in a fair and orderly manner.”

More importantly, Grayscale categorically stated that its spot Bitcoin ETF application deserves to be approved if and when the SEC is ready to approve other Bitcoin ETF applications. The company also made the case for the SEC being fair to investors, if and when the agency approves the ETF application by itself or with enforcement from a court judgment. Recently, CoinGape reported that the US SEC may already be in a tough spot that forces it to approve the Grayscale application. The company’s lawyers made a strong case in its favor in March 2023, when they nearly convinced judges that the US SEC was being unfair.

Also Read: UK and Singapore Unite for Crypto Standards: The Next Big Leap for Digital Asset Regulation?

Anvesh reports major crypto updates around regulation, lawsuits and trading trends. Published around 1,000 articles and counting on crypto and web 3.0. He is currently based in Hyderabad, India. Reach out to him at [email protected] or twitter.com/BitcoinReddy

Breaking: Grayscale Releases Comment Letter On Bitcoin ETFs To US SEC svg xml  3Csvg 20xmlns

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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