Bitcoin spot ETFs do not yet exist, and cryptocurrency companies have been proposing various concepts to the Securities and Exchange Commission (SEC) for many years. However, some companies have legalized Bitcoin futures ETFs. & Nbsp;
Cryptographic companies have fought to legalize For years, the US Bitcoin Spot ETF hasn’t succumbed yet, despite the recent two “cryptocurrency positives” of the SEC. Chair. & Nbsp;
For example, Jay Clayton, head of the SEC from May 4, 2017 to December 23, 2020, is a fan of Bitcoin as a valuable store. However, there was no suggestion to convince Clayton that all kinds of Bitcoin ETFs are ready. Gary Gensler, Clayton’s successor, has approved ProShares. BITO.
Other ETF proposals, including those from Valkyrie and Van Eck, have also been approved. That said, one company, Grayscale, may have implemented the Bitcoin Spot ETF first.
Grayscale, which owns the world’s only SEC-approved listed Grayscale Bitcoin Trust (GBTC), proposed the Bitcoin Spot ETF to the SEC in 2016. The group soon withdrew its application in 2017 due to a conversation impasse.
As of March 2022, grayscale will continue change GBTC is the world’s first Bitcoin spot ETF, threatening to even sue the SEC if the latest attempts are not made. On the contrary, the SEC argues that market manipulation is the biggest hold-up to Bitcoin Spot ETF approval.