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GBTC Calls for Spot ETF Approval, Citing SEC Past Futures Greenlight

Published 28/07/2023, 18:44
GBTC Calls for Spot ETF Approval, Citing SEC Past Futures Greenlight

  • Grayscale calls for approval of spot Bitcoin ETFs in the U.S.
  • Its legal team submitted a comment letter supporting the case to convert GBTC to spot ETF.
  • The firm emphasized the interconnectedness of Bitcoin spot and futures markets.

In a recent tweet, Grayscale Investments, a prominent digital asset management firm, made a compelling case for approving spot Bitcoin exchange-traded funds (ETFs) in the United States.

The firm called explicitly for the approval of spot ETFs in light of the Securities and Exchange Commission (SEC)’s previous Bitcoin futures ETF clearance. Grayscale argued that prior approvals of futures ETFs suggest the regulator is well-positioned to greenlight spot Bitcoin ETFs.

Meanwhile, according to the company’s Chief Legal Officer, Craig Salm, the legal team has taken proactive measures while awaiting a court decision regarding its lawsuit to c…

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The post GBTC Calls for Spot ETF Approval, Citing SEC Past Futures Greenlight appeared first on Coin Edition.

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