CNBC reports that Grayscale met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF. “The SEC is discriminating against issuers by approving bitcoin futures ETFs and denying bitcoin spot ETFs,” according to the investment firm.
ETF Newz Says: The SEC has maintained that it will not approve a spot bitcoin ETF. Grayscale believes that it will unlock up to $8 billion in value for investors if the fund is approved. The fund is down 64% over the past 6 months.