All Bitcoin ETF’s Should be Approved at Once; Grayscale to The SEC

Grayscale Investments, a big investment company, has said the US Securities and Exchange Commission (SEC) should approve all applications for Bitcoin exchange-traded funds (ETFs) at the same time. They believe that approving only some applications would give an "unfair" advantage to the winners. Grayscale is also trying to get approval to change its current trust product into an ETF.

Grayscale said in a statement that the SEC should treat all applications for Bitcoin ETFs equally. If only a few applications are approved, it would mean that those applications get an unfair first-mover advantage.

They also suggested that the applications that have an agreement with crypto exchange Coinbase might not meet the SEC’s requirements. Grayscale doesn't think that having an agreement with Coinbase is enough to satisfy the SEC.

The SEC has turned down Grayscale’s previous application to change its Grayscale Bitcoin Trust (GBTC) into an ETF. But, they have approved some Bitcoin ETFs that are based on future predictions. Grayscale took legal action against the SEC for not approving their application last year.

Grayscale manages GBTC, the world's biggest Bitcoin fund. This fund allows big investors to invest in Bitcoin without having to own it directly. GBTC is a well-known way to invest in Bitcoin.

Last month, many big institutions like BlackRock and VanEck applied for Bitcoin ETFs.

In conclusion, Grayscale's statement said that if the SEC decides to approve some of the Bitcoin ETF applications, they should do it in a fair way. **They insist that all applications should be approved at the same time to promote fairness.