in bitcoin ETF, Grayscale, News, Regulation News, U.S. SEC

Grayscale Slams the SEC Over the “Discriminatory” Behaviour In the Lawsuit

by Repost Admin October 12, 2022, 6:41 am 2k Views

The world’s largest crypto asset manager Grayscale Investments has come out lashing at the U.S. Securities and Exchange Commission (SEC) for rejecting the spot Bitcoin ETF.

Grayscale is looking to convert its $12 billion Bitcoin Trust (GBTC) into a spot Bitcoin ETF. However, the SEC has turned down this proposal citing risks of fraud and market manipulation.

Grayscale said that the SEC is “capricious” and “discriminatory” in its assessment of the spot Bitcoin market as the securities regulator has allowed futures-based Bitcoin ETFs and they are exposed to similar concerns. In its lawsuit against the SEC, Grayscale argues:

“The test the SEC has applied to Bitcoin-related ETFs, and only Bitcoin-related ETFs, is flawed and has been inconsistently applied with a ‘special harshness’ to spot Bitcoin ETFs”.

Grayscal