Coinbase legal chief expects SEC will approve a bitcoin ETF soon$Coinbase Global, Inc.(COIN)$
Coinbase's (COIN) chief legal officer said he's "hopeful" that a U.S. spot bitcoin (BTC-USD) ETF will soon be approved by the U.S. Securities and Exchange Commission.
In August, a federal court rule that the SEC didn't adequately explain why it didn't approve Grayscale Investment's application to convert Grayscale Bitcoin Trust (OTC:GBTC) into an ETF. Earlier this month, the SEC said it didn't plan to appeal that ruling.
“I think that the firms that have stepped forward with robust proposals for these products and services are among some of the biggest blue chips in financial services,” said Coinbase's Paul Grewal in an interview on CNBC. "So that, I think, suggests that we will see progress there in short order."
He didn't say exactly when he thought that might happen. Any decision, of course, remains up to the SEC, he added.
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- VivianChua·2023-10-24Nice 💚 💚 💚LikeReport