Grayscale fights SEC for looser restrictions on trust products

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/07/SEC-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/07/SEC-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/07/SEC-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/07/SEC-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/07/SEC-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/07/SEC-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/07/SEC-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/07/SEC.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>Grayscale’s GBTC operates as a spot bitcoin exchange-traded product (ETP), more commonly known as an ETF.  The SEC’s involvement in negotiations with Grayscale signifies a critical step in the potential approval of several ETFs for the crypto industry. If the approval goes ahead, the entry of everyday investors into the digital asset space could be simplified. To alter this course, <a href="https://www.leaprate.com/news/grayscale-tipping-the-scales-its-legal-action-against-sec/" target="_blank" rel="noopener">Grayscale</a> has been in communication with both the SEC’s Division of Trading and Markets and the Division of Corporation Finance; however, experts have been informed that the exact conversations are confidential until the SEC has made its decision.</p>
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<p>Craig Salm, Grayscale’s chief legal officer, emphasised the company’s focus on constructive engagement with the SEC’s Division of Trading and Markets. While acknowledging that there are still details to be ironed out, Salm expressed optimism:</p>
<blockquote><p>Overall, it’s been [a] good engagement, and it’s a matter of when, not a matter of if anymore.</p></blockquote>
<p>SEC Chair Gary Gensler also refrained from disclosing the commission’s next steps regarding Grayscale’s application and others, citing the need to wait for staff recommendations. In the interim, Gensler highlighted the significance of the corporation-finance arm in dealing with the challenges posed by “rapidly evolving technology and business models,” a factor crucial to Grayscale’s ETF aspirations.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/financial-services/etf/grayscale-fights-sec-for-looser-restrictions-on-trust-products/">Grayscale fights SEC for looser restrictions on trust products</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>