Michael Sonnenshein, CEO of asset management firm Grayscale, has made it clear that getting a spot Bitcoin exchange-traded fund is currently the firm's "number one" priority, according to a report by London-based financial newspaper Financial News.

As you know, the US Securities and Exchange Commission (SEC) has so far rejected many offers to launch a spot Bitcoin ETF put forward by big players like Fidelity and SkyBridge. The SEC cited as one of the reasons why these rejections were due to the absence of investor protection mechanisms in the industry.

Grayscale CEO Michael Sonnenshein

the US Securities and Exchange Commission is currently accepting public comments on Grayscale's rule change proposal. In February, Bloomberg's Eric Balchunas stated that the vast majority (roughly 95 percent) of the views favored a green light for the product. The general consensus seems to be that the SEC has already approved several Bitcoin ETFs based on futures, so it makes sense to approve a product that tracks the value of physical Bitcoin rather than derivatives.

the US Securities and Exchange Commission Delays Decision on Spot Bitcoin ETF Offerings by WisdomTree and One River

While crypto regulation studies have been continuing at full speed by the regulators recently, the US Securities and Exchange Commission (SEC) continues its time-consuming policy.

SEC

The US Securities and Exchange Commission (SEC) has delayed the spot Bitcoin ETF filing decision by WisdomTree Investments (WETF) and One River Asset Management. The decision on One River's proposal was postponed to April 3, and WisdomTree's proposal to May 15. the US Securities and Exchange Commission had previously rejected WisdomTree's application in December. However, the company edited and resubmitted. The SEC has either completely rejected or delayed all spot Bitcoin ETF offers so far. Applications from NYDIG and Global X were also rejected last month.