Grayscale Puts Further Pressure on US SEC to Approve Spot Bitcoin ETF

The exchange-traded funds (ETFs) bundle securities such as stock and commodities and allow investors to buy their shares without owing the asset directly. Currently, the US SEC has been comfortable for approving Bitcoin futures ETF. However, it shows severe discomfort for approving a spot Bitcoin ETF product.

But lawyers representing Grayscale have cited the recent approval of Teucrium bitcoin futures ETF. Further, in a letter sent to the US SEC, Grayscale’s attorneys have argued that the manner in which the securities regulator approved the Teucrium bitcoin futures ETF, it further opens the door for the spot Bitcoin ETF. The letter from Davis Pol & Wardwell reads:

“We believe that the Teucrium order confirms the fundamental point made in our November 29, 2021 letter…[w]hen it comes to approving ETPs, there is not a basis for treating spot bitcoin products differently from Bitcoin futures products”.

Clickbank Promo Tools

The SEC had approved the Teucrium bitcoin futures ETF under the Securities Exchange Act of 1933. However, it approved other futures ETF under the Investment Company Act of 1940. this change opens up the door for the approval of the spot Bitcoin ETF.

#shorts #cryptocurrency

cryptocurrency, cryptocurrency btt,cryptocurrency ethereum,cryptocurrency shiba inu,cryptocurrencies,cryptocurrencies 2021,cryptocurrencies falling,cryptocurrencies how it works,cryptocurrencies how to invest,cryptocurrencies dogecoin, cryptocurrencies today, cryptocurrencies novices guide, promising cryptocurrencies 2021, news about cryptocurrencies


Leave a Reply

Your email address will not be published.

%d bloggers like this: