Crypto Market: Grayscale had on Thursday despatched out a remark letter to the U.S. Securities and Alternate Fee (SEC) in relation to the spot Bitcoin ETF filings from corporations together with the Grayscale Bitcoin Belief (GBTC). The letter pertains to Grayscale in addition to seven different spot bitcoin ETF filings with the surveillance sharing agreements (SSAs). Curiously, the corporate reiterated its argument that the SEC already has sufficient cause and powers to approve the spot Bitcoin ETFs contemplating the earlier approval of the Bitcoin futures ETFs.
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Grayscale: Bitcoin ETF Approvals Ought to Be Honest
The corporate printed the letter which detailed its place on the latest developments round Bitcoin ETF filings with the US SEC. The letter additionally mentions the Coinbase surveillance sharing agreements from the seven filings. Nonetheless, it flagged the US SEC’s earlier remark that questioned the relevance of pricing information produced by “unregulated bitcoin buying and selling venues,” which on this case is the crypto alternate Coinbase.
“The SEC is already ready to approve spot bitcoin ETFs primarily based on its earlier approval of bitcoin futures ETFs. The SEC’s actions associated to bitcoin ETFs needs to be made in a good and orderly method.”
Extra importantly, Grayscale categorically acknowledged that its spot Bitcoin ETF utility deserves to be authorized if and when the SEC is able to approve different Bitcoin ETF purposes. The corporate additionally made the case for the SEC being honest to traders, if and when the company approves the ETF utility by itself or with enforcement from a court docket judgment. Lately, CoinGape reported that the US SEC might already be in a tricky spot that forces it to approve the Grayscale utility. The corporate’s attorneys made a robust case in its favor in March 2023, after they practically satisfied judges that the US SEC was being unfair.
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