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Benzinga
Benzinga
Business
Adrian Zmudzinski

INSANE: Grayscale points out sec s inconsistency in bitcoin stop etf rejections | Vintage Vibes

Grayscale Investments — the firm behind the world's largest Bitcoin (CRYPTO: BTC) closed-end fund, Grayscale Bitcoin Trust (OTC:GBTC) — highlighted what it believes to be inconsistencies in the way the U.S. Securities and Exchange Commission (SEC) treats cryptocurrency derivatives.

What Happened: Grayscale's legal counsel Davis Polk and Wardwell wrote in a letter to the SEC that its approval for the Teucrium Bitcoin Futures Fund is inconsistent with the regulator's refusal to approve Bitcoin spot exchange-traded funds (ETFs), according to a recent The Block Crypto report.

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