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Grayscale: The SEC’s reasons for opposing the listing of Bitcoin spot ETFs are illogical

January 13, 2023
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Grayscale responded to a briefing issued by the U.S. Securities and Exchange Commission (SEC) on December 9. Grayscale stated that the core view of the SEC is the regulatory sharing agreement between exchanges and CMEs for bitcoin futures ETFs (exchange-traded funds). Adequate protection is provided against fraud and manipulation in the bitcoin futures market, but not in the spot bitcoin market.

But any fraud that occurs in the bitcoin spot market is bound to affect the price of bitcoin futures, so the SEC’s view is illogical. The SEC will issue a final briefing on the matter on February 3.

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