Grayscale Investment Lawyers Request Meeting with SEC to Expedite Bitcoin ETF Approval Process
Grayscale Investment lawyers have penned a letter to the United States Securities and Exchange Commission (SEC), expressing their desire to meet and accelerate the approval process for a Bitcoin exchange-traded fund (ETF). In the letter, they state their appreciation for the opportunity to meet with the SEC staff as soon as possible.
Grayscale Believes SEC Has No Objections Remaining for Bitcoin ETF Approval
Grayscale recently demanded that the SEC halt any ongoing legal proceedings regarding the conversion of their Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. This request follows the approval granted by the US Court of Appeals, which ordered the SEC to reevaluate its initial denial of Grayscale’s Bitcoin ETF application. Grayscale argued that the absence of a surveillance-sharing agreement should not be a valid objection, citing similar products such as Bitcoin Futures. The letter emphasized that no additional arguments against a Bitcoin ETF product would have emerged at this point.
Grayscale firmly believes that the SEC should swiftly approve the conversion of GBTC into a Bitcoin ETF, as there are no rational grounds to reject it.
Hot Take: Grayscale Urges SEC to Act Promptly on Bitcoin ETF Approval
Grayscale Investment lawyers are pressing the SEC to expedite the approval process for a Bitcoin ETF. They argue that there are no remaining objections and that any rational avenues for rejection have already been addressed. The ball is now in the SEC’s court to make a decision that could have a significant impact on the future of cryptocurrency investments.
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