Minn The Daily Hodl - 2 snin ilu - Ħin tal-Qari: 2 minuti
Crypto Giant Grayscale Submits Letter to SEC in Bid for Approval of First Spot Bitcoin ETF: Rapport
Crypto asset manager Grayscale has reportedly submitted a letter to the U.S. Securities and Exchange Commission (SEC) in an attempt to get the nod for the first spot-based Bitcoin (BTC) fond negozjat fil-kambju (ETF).
Skond ġdida tirrapporta mill-Financial Times (FT), Grayscale reċentement bagħtet ittra lill-aġenzija regolatorja fejn staqsiet jekk jistgħux jikkonvertu l-$40 biljun tagħhom Bitcoin fiduċja f'ETF.
So far, the SEC has rejected every other spot-based Bitcoin ETF application while giving the green light for futures-based Bitcoin EFTs.
In the letter seen by FT, Grayscale mentions the approval of Teucrium’s futures Bitcoin ETF and argues that a spot-based Bitcoin ETF should also be governed by the same rules.
"Aħna nemmnu li l-ordni tat-Teucrium tikkonferma l-punt fundamentali...
When it comes to approving [exchange-traded funds], there is no basis for treating spot Bitcoin products differently from Bitcoin futures products.”
Fi Twitter twil, ħajt, il-Kap Eżekuttiv ta 'Grayscale Michael Sonnenhein jispjega why Teucrium’s futures Bitcoin ETF is not different from a spot Bitcoin ETF.
“Today, in approving Teucrium’s application under the ’33 Act, the SEC cleverly decided to define the market as just the CME (Chicago Mercantile Exchange) Group and the underlying assets as just CME Bitcoin futures, which of course makes CME significant since its 100% of the CME Bitcoin futures market!
What’s wrong with this argument? Well, digging deeper, lets remember that CME Bitcoin futures are *priced based on spot Bitcoin markets* and therefore directly influenced by them.
Għalhekk, jekk is-SEC tkun komda b'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.”
Is-SEC huwa skedat li jagħmlu a decision on Grayscale’s Bitcoin ETF application in July.
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