• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, May 19, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto Bitcoin

Grayscale bashes the SEC for rejecting a spot BTC ETF

by Reshab Agarwal
October 13, 2022
in Bitcoin, Crypto, News
Reading Time: 2 mins read
0
Grayscale bashes the SEC for rejecting a spot BTC ETF
TwitterWhatsappLinkedin

Grayscale, the world’s largest Bitcoin investment fund, bashes the SEC for its ignorance towards Bitcoin trading. The US SEC has rejected so many sport Bitcoin ETFs that we have all lost count. But at the same time, they continue to approve future ETFs. Now, the SEC says that this is because spot ETFs can be used for market manipulation, and they want to protect investors. But the funds that are applying for a spot ETF do not agree with that logic.

You might also like

Antonio Filosa Emerges as Leading Candidate for Stellantis CEO Role Amid Strategic Crossroads

VerSe Innovation to Lay Off 350 Employees as Dailyhunt and Josh Shift Focus to AI and Restructuring

Indian Defence Forces Granted Emergency Procurement Powers Amid Operation Sindoor

Grayscale fights back SEC’s decision

The Bitcoin investment fund has proposed to convert its $15 billion fund into a spot ETF. This will not only increase adoption but can also solve the problem of a huge slippage between the funds’ price and Bitcoin’s. However, the SEC has rejected their application citing investor protection and market manipulation as problems.

Grayscale bashes the SEC for rejecting a spot BTC ETF

Grayscale is completely against this logic and clearly states that their current trust can be more easily manipulated when compared to ETF futures based on bitcoin trading price indexes. And since BTC futures and spot prices have the same underlying markets, there should be no reason to reject a spot Bitcoin ETF.

This is why Grayscale believes that the SEC is showing a “special harshness” towards Bitcoin trading. They are not looking at applications unbiasedly which is why so many have been rejected till now. And if it worries the SEC so much, then even the future ETFs share the same problem as the spot ones would. Therefore, Grayscale’s chief legal officer Craig Salm said, “If you’re OK with one, you must also be OK with the other because you otherwise would be arbitrary.”

About Grayscale Bitcoin fund

Grayscale is the largest biggest Bitcoin fund in the world and is also known as (GBTC). It is also the first publicly traded trust in history whose value is derived from a digital currency.  Since GBTC is a trust that invests in cryptocurrencies, you can purchase its shares using your brokerage account. By doing this, you skip the inconvenience of buying BTC through a cryptocurrency exchange and indirectly purchase it. This implies that you depend on Grayscale to act as a middleman and buy and hold Bitcoin on your behalf.


What are your thoughts as Grayscale bashes the SEC for rejecting their spot ETF? Let us know in the comment below. And, if you found our content informative, share it with your family and friends.

Also Read: US Treasury faces lawsuit over Tornado Cash Ban.

Tags: bitcoingrayscaleSEC
Tweet54SendShare15
Previous Post

Number of American crypto investors has surged by 125% in crypto winter

Next Post

8 Functional Testing Interview Questions and Answers

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

Antonio Filosa Emerges as Leading Candidate for Stellantis CEO Role Amid Strategic Crossroads

by Samir Gautam
May 18, 2025
0
Antonio Filosa Emerges as Leading Candidate for Stellantis CEO Role Amid Strategic Crossroads

Antonio Filosa, the executive currently leading Stellantis’ U.S. operations, has emerged as the top contender to succeed outgoing CEO Carlos Tavares, according to reports from Bloomberg. As Stellantis...

Read more

VerSe Innovation to Lay Off 350 Employees as Dailyhunt and Josh Shift Focus to AI and Restructuring

by Rounak Majumdar
May 18, 2025
0
VerSe Innovation to Lay Off 350 Employees as Dailyhunt and Josh Shift Focus to AI and Restructuring

The parent firm of well-known content sites Dailyhunt and Josh, VerSe Innovation, has announced a major layoff, laying off about 350 employees this month. Since the company's last...

Read more

Indian Defence Forces Granted Emergency Procurement Powers Amid Operation Sindoor

by Rounak Majumdar
May 18, 2025
0
Indian Defence Forces Granted Emergency Procurement Powers Amid Operation Sindoor

In May 2025, India's national security environment changed drastically after the disastrous Pahalgam terror strike in Jammu and Kashmir, which left 26 people dead. The Indian government responded...

Read more
Next Post
HD photo by The Jopwell Collection (unsplash.com)

8 Functional Testing Interview Questions and Answers

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?