A Dozen Reasons Why the SEC Should Have Approved Grayscale’s Spot Bitcoin ( $76,372.00 ) ETF

The core argument in favor of approving a spot Bitcoin ( $76,372.00 ) ETF, at least at this time, is that the SEC’s concerns about manipulation are literally inconsistent – and possibly in violation of the Administrative Procedure Act, as Ribbit Capital’s Sigal Mandelker and Jessi Brooks wrote. The agency has already approved exchange-traded products that use Bitcoin ( $76,372.00 ) futures contracts, particularly NYSE Arca’s proposal to list and trade shares of the Teucrium Bitcoin ( $76,372.00 ) Futures Fund and Nasdaq’s proposal to list and trade shares of the Valkyrie XBTO Bitcoin ( $76,372.00 ) Futures Fund. Both of the funds provide “surveillance-sharing agreements” designed to prevent manipulation, which the SEC says every spot BTC application has lacked.