Grayscale Urges Simultaneous Green Light for All Bitcoin ETFs
posted 28 Jul 2023
Grayscale Investments has warned the US Securities and Exchange Commission (SEC) that granting approval to certain spot Bitcoin ETF proposals ahead of others could create an "unfairly discriminatory and prejudicial first-mover advantage".
The company's comments follow BlackRock's recent application to launch a spot Bitcoin ETF, which reignited hopes and triggered similar filings from other firms. Grayscale had previously attempted to convert its Bitcoin Trust (GBTC) to an ETF but was denied by the SEC.
The firm now supports the simultaneous approval of all proposed spot Bitcoin ETFs to maintain a level playing field.
The company's comments follow BlackRock's recent application to launch a spot Bitcoin ETF, which reignited hopes and triggered similar filings from other firms. Grayscale had previously attempted to convert its Bitcoin Trust (GBTC) to an ETF but was denied by the SEC.
The firm now supports the simultaneous approval of all proposed spot Bitcoin ETFs to maintain a level playing field.
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