# Crypto: Grayscale Meets With SEC To Persuade Approval of 1st Spot Market Bitcoin ETF

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Last modified: 2022-05-12

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By Paul Ebeling · 2022-05-12
Tags: Shayne Heffernan on Investments, Luxury, SEC, Lifestyle, NYSE, Paul Ebeling, Bitcoin, ETF, Crypto, Education, crypto, Bitcoin, Ethereum, ethereum, Living, Featured
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#crypto #ETF #bitcoin #SEC #NYSE

$BTCUSD $ETHUSD

Crypto asset manager Grayscale is attempting to convince the US Securities and Exchange Commission to approve the 1st spot market Bitcoin ETF).

According to a new report, Grayscale gave a private presentation to the SEC in order to persuade them into allowing the crypto firm to turn the Grayscale Bitcoin Trust (GBTC) into a New York Stock Exchange (NYSE)-traded ETF.

Grayscale also says they would like to see the SEC treat Bitcoin ETFs the same way they do futures-based BTC ETFs as they are not riskier. So far, the SEC has approved numerous futures-based Bitcoin ETFs but has so far rejected every proposal for a spot market one.

As the digital asset manager says, *“The SEC is discriminating against issuers by approving Bitcoin futures ETFs and denying Bitcoin spot ETFs.”*

Grayscale CEO said in late April about the SEC’s perceived unfair treatment of the two different types of ETFs after the SEC approved a futures-based ETF from ETF-provider Teucrium.

*“If the SEC is comfortable with a Bitcoin futures ETF, they must also be comfortable with a spot Bitcoin ETF. And they can no longer justifiably cite the ’40 Act as being the differentiating factor.”*

The SEC is slated to make a decision by 6th July.

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Have a prosperous day, Keep the Faith!

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