to the US Securities and Exchange Commission (SEC) Applying for spot Bitcoin ETF and rejected ETF offers Michael Sonnenshein, CEO of Grayscale made statements on the subject.
Speaking to the London-based financial newspaper Financial News, Sonnenshein said that the company’s current “number one” priority and target spot Bitcoin ETF He said it was to get approval.
Stating that the SEC stubbornly refused to approve a spot Bitcoin ETF, the CEO of Grayscale accused the SEC of creating an unfair playing field.
Reminding that they applied to convert the Bitcoin Trust (GBTC) into a spot Bitcoin ETF last October and that no decision has been made yet, Sonnenshein said that he believes the SEC will change its stance in the future.
SEC’s Look at the Spot Bitcoin ETF!
The U.S. Securities and Exchange Commission has so far A spot Bitcoin ETF by institutional companies such as Fidelity, Valkyrie, VanEck, and SkyBridge has rejected applications.
The SEC has stated in its previous decisions that it rejects spot Bitcoin ETF applications due to lack of investor protection.
ETF filings by NYDIG and Global X in early March the principles of “preventing fraudulent and manipulative acts and practices, investor protections and public interest” He refused the applications, stating that he did not meet the requirements.
Although the SEC has still not changed its mind on the Bitcoin Spot ETF, not all SEC members agree.
For SEC member Hester Peirce spotlight in his previous statements bitcoin He said there was no reason why his ETF should not be approved.