Anthony Scaramucci’s crypto-focused investment firm SkyBridge Capital has voiced support for a wave of Bitcoin (BTC) spot ETF applications that hit the federal register last month, putting it in direct opposition to Grayscale.

The applications—from the likes of Ark Invest, Invesco, and BlackRock—identify Coinbase as a surveillance partner for detecting fraud in the underlying Bitcoin market. Unlike Grayscale, SkyBridge expressed confidence that Coinbase is well suited to the task.

“SkyBridge disagrees in the strongest terms with Grayscale’s assertion that the commission may hold up applications that meet the commission’s standards so that other market participants can catch up,” wrote lawyers representing the investment firm in a letter to the SEC on Monday.

Last month, Grayscale argued to the SEC that Coinbase would not an adequate partner for surveillance-sharing agreements to oversee Bitcoin, based on the regulator’s previous rulings on products with similar arrangements.

At the time, Grayscale cited the SEC’s rejection of GraniteShares ETP Trust in 2018, which intended to use Gemini as a surveillance partner. It also referenced the SEC’s rejection of Grayscale’s own attem

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Author: Andrew Throuvalas

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