Grayscale: The SEC Should Approve All Bitcoin Spot ETF Requests

Grayscale Investments has expressed its belief that the SEC should approve all applications for spot versions of an exchange-traded fund (ETF) based on Bitcoin.

The firm conveyed their rationale with a legal letter to the Commission, when they submitted their eight bitcoin ETF launch applications.

They have noted the two types of funds are “inextricably linked,” and that they support any effort bringing more control to the sector.

Additionally, they have stated that the SEC should not “choose winners and losers,” instead they should provide “feedback or recommendations to issuers consistently and impartially.”

In their opinion, in the interests of investors and the market, “all applications for the [spot] bitcoin ETF must be approved at the same time.”

In addition to this, Grayscale alleged that the Commission may have violated the law on Administrative Procedures when rejecting the spot version applications, whilst approving the futures one.

Their applications were submitted in October 2021 and the SEC delayed their decision to February 2022, followed by a negative response in which Grayscale then sued the SEC on June 30.