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With the approval of a fourth Bitcoin futures ETF, SEC’s arguments for rejecting spot Bitcoin ETFs are running thin, according to Grayscale CEO Michael Sonnenshein.
Laszlo Dobos 3 min read 
A public consultation period is open for people to contact the SEC and express their views on a Bitcoin spot ETF.
US financial watchdog delayed decisions on the two ETFs that would allow more direct exposure to Bitcoin until early February.
“While big banks continue to grapple with how to engage with Bitcoin, mainstream adoption has arrived,” according to Grayscale’s latest Bitcoin Investor Study.
The new investment vehicle follows similar Grayscale products that offer exposure to single-assets, including Bitcoin, Ethereum, Chainlink.
Grayscale sent a letter to the SEC, arguing that the agency’s discrimination against Bitcoin spot ETFs is in violation of the Administrative Procedure Act (APA).
Grayscale in a new report has said that the metaverse has an economic potential of over $1 trillion.
The crypto behemoth is now valued at over $10 billion and has businesses ranging from crypto lending to media.
Grayscale's cryptocurrency trusts are currently one of the only regulated ways for institutional investors to bet on crypto. And they could soon become exchange-traded funds.
