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SEC
SEC

Grayscale launch Campaign as SEC stalls on Bitcoin ETF proposal

Grayscale is launching a campaign to influence the SEC’s decision to approve its spot Bitcoin ETF application by showing public interest and support in the product.

The Investment firm is hoping to gain public support for its spot Bitcoin ETF application and convince the SEC to approve the application. Grayscale filed a proposal to convert GBTC to a Bitcoin spot ETF last year, and the SEC has been stalling on the decision to approve it.

 Grayscale calling for Support for Spot Bitcoin ETF

Grayscale Investments has started a campaign to gather the support of the public to urge the Securities and Exchange Commission to approve its spot Bitcoin ETF application. This follows reports by the SEC about a large influx of letters on the topic of the Grayscale Spot Bitcoin ETF proposal last week. As the SEC stalls on its decision, the world’s largest crypto asset management firm is launching a campaign calling for Americans to support its application.

RELATED: SEC Receives 200 Letters On Grayscale’s Bitcoin ETF

The primary aim of this campaign is to appeal to U.S investors to submit comments to the SEC asking the agency to approve the Grayscale Spot Bitcoin ETF proposal.

Micheal Sonnenshein, CEO of Grayscale, said in a press release on Tuesday while announcing the campaign:

“We will use the strength of Grayscale’s brand and resources to continue to advocate for these investors and ensure that the investing public is aware of the unique opportunity they have to voice their opinions directly to the SEC–a critical part of our existing regulatory process.”

So far, the SEC has turned down all prior requests for spot Bitcoin ETFs, but the Grayscale proposal seems different from other requests as Grayscale has operated a regulated Bitcoin trust fund for several years. We are still waiting to see if the SEC will approve the application as it remains under consideration.

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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