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Coinbase Exec Uses The Law To Back Why SEC Should Approve A Spot Bitcoin ETF

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Coinbase’s Chief Legal Officer, Paul Grewal has recently used the law to back the approval of a Spot Bitcoin Exchange Traded Fund (ETF) by the United States Securities and Exchange Commission (SEC), highlighting that the US regulator should fulfill its responsibilities.

Coinbase CLO Optimism On The Approval Of A Spot BTC ETF

In an interview on Friday, with CNBC’s Arjun Kharpal, Paul expressed his optimism about the approval of Bitcoin ETF applications by the SEC. The Coinbase CLO said that he is quite confident that the SEC will soon approve a spot Bitcoin ETF, backing his belief under the law.

“I’m quite hopeful that these [ETF] applications will be granted, if only because they should be granted under the law,” Paul stated.

Following the interview, Paul highlighted his beliefs in the early success of approval, noting that the firms that have stepped forward with well-structured ETF proposals for these products and services are crucial players in the financial service industry.

I think that the firms that have stepped forward with robust proposals for these products and services are among some of the biggest blue chips in financial services. So that, I think, suggests that we will see progress there in short order.

However, Paul did not give a time frame as to when the approval will happen since the final decision about the approval ultimately lies with the SEC. However, he is still confident that the US regulator is likely to approve a Bitcoin ETF in a short period due to recent developments.

Paul further backed his optimism following the SEC’s recent court setback when a judge from the US Court of Appeals stated that the US regulator had no grounds to deny Grayscale’s approval to convert its Grayscale Bitcoin (BTC) into a spot Bitcoin ETF, calling the SEC’s decision an arbitrary move

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Author: Scott Matherson

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