Grayscale has argued that the Securities and Exchange Commission (SEC) should approve all spot Bitcoin exchange-traded funds (ETFs) simultaneously. In a statement, Grayscale’s Chief Legal Officer emphasized that the SEC should not pick winners and losers and that its actions should be fair and orderly. A spot Bitcoin ETF would allow institutions to gain exposure to Bitcoin without directly holding the coin, which is seen as a significant step towards wider Bitcoin adoption. Several firms, including BlackRock, Fidelity, WisdomTree, and Invesco, have recently submitted applications for spot Bitcoin ETFs. Grayscale believes that the approval process should be fair for all investors and issuers. The company has expressed its willingness to work with regulators to convert its Grayscale Bitcoin Trust (GBTC) into an ETF.
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