On February 8, the U.S. Securities and Exchange Commission (SEC) recently approved several applications for bitcoin spot ETFs, asking the public to provide feedback on whether the type of ETF and bitcoin itself are vulnerable to manipulation and fraud.
The SEC issued similar notices in response to Grayscale’s application to convert its Grayscale Bitcoin Trust (GBTC) into a Bitcoin spot ETF, and asset management firm Bitwise’s application to issue a new ETF. The SEC has rejected six similar applications since November, including those from VanEck, WisdomTree and SkyBridge Capital.