Grayscale Calls for Simultaneous Approval of Bitcoin ETF Applications
Grayscale Investments has urged the U.S. Securities and Exchange Commission (SEC) to approve all spot bitcoin exchange-traded fund (ETF) applications simultaneously. The company argues that approving only certain proposals would create an unfair advantage for those applicants. Grayscale also questions whether the applicants’ surveillance-sharing agreements meet the SEC’s requirements. The SEC previously rejected Grayscale’s application to convert its Grayscale Bitcoin Trust into an ETF but has approved several futures-based bitcoin ETFs. Grayscale manages the world’s largest bitcoin fund, GBTC. The company believes that if the SEC decides to approve any spot bitcoin ETF applications, it must do so in a fair and orderly manner.
Key Points:
– Grayscale calls for simultaneous approval of all spot bitcoin ETF applications to ensure equal treatment for all applicants.
– The company questions whether the applicants’ surveillance-sharing agreements meet the SEC’s requirements.
– The SEC previously rejected Grayscale’s application to convert its Grayscale Bitcoin Trust into an ETF.
– Grayscale manages the world’s largest bitcoin fund, GBTC.
– If the SEC approves any spot bitcoin ETF applications, it must do so fairly and orderly.
Hot Take
Grayscale’s statement highlights the need for fair and equal treatment of all spot bitcoin ETF applicants. By advocating for simultaneous approval, Grayscale aims to prevent any unfair advantages. It also questions the adequacy of the applicants’ surveillance-sharing agreements. Ultimately, if the SEC decides to approve any spot bitcoin ETF applications, it must prioritize fairness and orderliness in its decision-making process.
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