The spot Bitcoin (BTC) exchange-traded fund (ETF), which digital asset manager Grayscale filed with the US Securities and Exchange Commission (SEC), received great support from the public.
CEO of Grayscale Michael Sonnenshein, Monday, June 27 in a letter shared with investors on the day of the SEC review. Application to convert Grayscale Bitcoin Trust (GBTC) to spot Bitcoin ETF made statements about
The letter states that the SEC is seeking public feedback on the application. More than 11,400 comments and these comments 99.96%of the supporting the transformation specified.
sonnenshein He made the following statements on the subject:
We are encouraged by the actions and statements of the SEC over the past eight months that point to increased recognition and comfort of the underlying Bitcoin market maturity. The endorsement of many Bitcoin-related investment products strengthens our arguments as to why the US market deserves a spot Bitcoin ETF.
If the application is not approved in the previous statements, Initiating legal action against the SEC including all options are on the table indicating CEO Sonnenshein, He repeated these statements in his statement.
However, as you know, the SEC continues to disapprove of the issuance of spot-based ETFs. For this reason, the Grayscale team is preparing for all possible scenarios after the decision.
Within the scope of the studies carried out in this direction, the company June at the beginning of the month Additional legal adviser to the Obama administration’s top former attorney appointed as.
grayscaleFirst time to convert GBTC to spot Bitcoin ETF October He filed an application with the SEC in May. December postponing the decision of the application for 45 days in SEC, February Bitcoin market in liquidity and transparency with Bitcoin as the core asset for the fund “suitabilityexpressing his concerns about postponed his decision and He requested public comment on the matter..
The company, after this request of the SEC, Mobilizing US investors for a campaign had started. About the SEC’s application 6 July positive or negative until a final decision has to give.