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Grayscale ETF may be approved in July
Grayscale Adopts New Move for Approval on Bitcoin etf. Digital asset manager Grayscale has launched a new effort to gain approval from the US Securities and Exchange Commission (SEC) over the BTC ETF. Calling for Bitcoin (BTC) exchange-traded funds (ETF) is also on the rise as 2022 rolls around. Experts believe that sooner or later it will go to the Wall Street stock markets.
According to one report, Grayscale wrote a letter to the commission that focused on legal techniques to increase its demand. The asset manager wants to convert $40 billion worth of Bitcoin into an etf. Grayscale's move comes amid a time when the commission was having a discussion about the future of the exchange-traded fund. However, a decision on Grayscale's request could come out any time in July.
It has been reported that about three such crypto-related ETFs are already in line for approval. Meanwhile, Grayscale's proactive approach will eventually force Sec to make his decision in time.
Grayscale in the letter reads, “There is no basis for treating spot bitcoin products differently from bitcoin futures products when it comes to validation.”