Grayscale submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) regarding spot Bitcoin ETF filings.
On Thursday, Grayscale sent a comment letter to the U.S. Securities and Exchange Commission (SEC) concerning spot Bitcoin ETF filings, including the Grayscale Bitcoin Trust (GBTC). The letter addresses Grayscale and seven other spot Bitcoin ETF filings with surveillance sharing agreements (SSAs).
Notably, Grayscale restated its argument that the SEC has sufficient grounds and authority to approve spot Bitcoin ETFs, given the prior approval of Bitcoin futures ETFs.
Grayscale Calls for Fair Bitcoin ETF Approvals
The company released a letter outlining its stance on recent Bitcoin ETF filings with the US SEC. The letter also brought up Coinbase’s surveillance sharing agreements from the seven filings. However, it highlighted the SEC’s previous comment questioning the significance of pricing data from “unregulated bitcoin trading venues,” like Coinbase.
Grayscale believes that the SEC has the authority to approve spot Bitcoin ETFs based on its prior approval of Bitcoin futures ETFs. The company urges the SEC to handle Bitcoin ETF matters in a fair and methodical manner.
Grayscale emphasized that its spot Bitcoin ETF application should be approved alongside other Bitcoin ETF applications when the SEC is ready. The company urged the SEC to treat investors fairly when approving the ETF application, whether independently or with court enforcement.
The US SEC might be facing a challenging situation that could lead to the approval of Grayscale’s application. In March 2023, Grayscale’s lawyers presented a compelling argument, nearly convincing judges that the SEC’s treatment was unfair.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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