Grayscale, a crypto fund manager, is urging the Securities and Exchange Commission (SEC) to approve all proposed spot Bitcoin exchange-traded funds (ETFs) simultaneously to ensure fairness. Grayscale’s Chief Legal Officer argued that the SEC should not pick “winners and losers” and instead make a fair and orderly decision. The company also stated that recent surveillance sharing agreements between Coinbase and ETF providers would not meet the SEC’s standards. Grayscale believes that approving the ETFs would be a positive change but granting an unfair advantage to certain proposals. The Grayscale Bitcoin Trust (GBTC) has nearly 1 million investors, and if it is converted to an ETF, it could return billions in value to investors. Grayscale previously sued the SEC after its application to convert GBTC to a spot Bitcoin ETF was denied.
