As the U.S. Securities and Exchange Commission is contemplating whether to authorize or refute Asset manager Grayscale’s application for a Bitcoin spot Exchange-Traded Fund (ETF), the corporation has called on American investors to submit comments to the controller. In a recent Twitter thread, the CEO of Grayscale, Michael Sonnenshein declared that the launch of a support campaign for U.S. based investors to talk their minds to the SEC before any ultimate conclusion is attained on the Bitcoin investment vehicle. Sonnenshein said that this campaign tries to nurture and motivate the investment population to bring action and make their choices heard on this notable decision.
As per Grayscale’s chief legal officer Craig Salm, the company has obtained more than 200 letters in assistance of the SEC enabling the company to restore its Bitcoin Trust into a physically-backed account. Salm further added that there are some themes from the response contained calling crypto ETF in the best interest of the public and enabling the United States to be competitive along with the innovative investment vehicles, calling out the SEC’s nonsense approach ETFs tied to Bitcoin forthcoming days but not Bitcoin spot ETFs. The new deferment has enabled the room for people who are interested to give comments on the proposed rule change for ghe Grayscale’s Bitcoin spot ETF. The administrative body has the power to extend the consideration window for like 240 days from the date of proposed rule change date Till now, the SEC has not authorized any investment vehicle with immediate exposure to crypto. Grayscale documented an application to re-structure its Bitcoin Trust into an ETF in October. If it is approved by the SEC, Grayscale would have the initial publicly listed Bitcoin spot ETF available in the U.S. However, it is anticipated to attain a decision next month.
Give a look at this-Grayscale Trying to Launch Bitcoin ETF