Americans want a spot bitcoin ETF, Coinbase's Grewal says

The Block
The Block

29 Jun 2023 3:44 PM

Americans want safe, regulated crypto products that include spot bitcoin ETFs, according to Coinbase Chief Legal Officer Paul Grewal. ...

  • Americans are interested in safe and regulated crypto products, including spot bitcoin ETFs.
  • Coinbase Chief Legal Officer, Paul Grewal, believes that the market is responding to the public's desire for regulated products.
  • Several companies, including BlackRock, Invesco, WisdomTree, Valkyrie Funds, and ARK Invest, have filed applications for spot bitcoin ETFs.
  • The SEC has not yet approved a spot bitcoin ETF due to concerns about market manipulation and fraud.
  • Grewal argues that the SEC is standing in the way of what the American people want when it hinders access to regulated crypto products.
  • Coinbase has filed a motion to dismiss a lawsuit by the SEC, claiming that the digital assets in question are not securities.
  • SEC Chair Gary Gensler has stated that many cryptocurrencies are securities and that exchanges should register with the agency.

The sentiment of the article is generally positive towards the desire for safe and regulated crypto products, but critical of the SEC's stance on spot bitcoin ETFs.

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You May Ask

What do Americans want in terms of crypto products?Which companies have filed applications for spot bitcoin ETFs?Why has the SEC not approved a spot bitcoin ETF?What is Coinbase's response to the SEC's lawsuit?What is SEC Chair Gary Gensler's stance on cryptocurrencies and exchanges?

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