{"id":62716,"date":"2022-06-10T10:21:37","date_gmt":"2022-06-10T07:21:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62716"},"modified":"2025-09-05T19:38:12","modified_gmt":"2025-09-05T16:38:12","slug":"grayscale-and-bitwise-forecast-near-term-approval-of-spot-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscale-and-bitwise-forecast-near-term-approval-of-spot-bitcoin-etf\/","title":{"rendered":"Grayscale and Bitwise Forecast Near-Term Approval of Spot Bitcoin ETF"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) is set to issue a positive decision on the launch of a spot<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\"> Bitcoin ETF<\/a> in the near term. This view was voiced by Grayscale Investments and Bitwise at the CoinDesk Consensus 2022 conference.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Executives from <a href=\"https:\/\/twitter.com\/Grayscale?ref_src=twsrc%5Etfw\">@Grayscale<\/a>, <a href=\"https:\/\/twitter.com\/BitwiseInvest?ref_src=twsrc%5Etfw\">@BitwiseInvest<\/a> and <a href=\"https:\/\/twitter.com\/ValkyrieFunds?ref_src=twsrc%5Etfw\">@ValkyrieFunds<\/a> all expressed optimism at <a href=\"https:\/\/twitter.com\/hashtag\/Consensus2022?src=hash&#038;ref_src=twsrc%5Etfw\">#Consensus2022<\/a> that a spot <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> ETF was well on its way to being approved by the <a href=\"https:\/\/twitter.com\/SECGov?ref_src=twsrc%5Etfw\">@SECGov<\/a>. <br \/>By <a href=\"https:\/\/twitter.com\/NelWang?ref_src=twsrc%5Etfw\">@NelWang<\/a><a href=\"https:\/\/t.co\/8KfTW7DIwo\">https:\/\/t.co\/8KfTW7DIwo<\/a><\/p>\n<p>\u2014 CoinDesk (@CoinDesk) <a href=\"https:\/\/twitter.com\/CoinDesk\/status\/1535051742248828948?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThere is a view in the crypto industry that the SEC simply says \u2018no\u2019, and now the facts show that,\u00bb said Matt Hogan, Chief Investment Officer of Bitwise Asset Management.<\/p>\n<\/blockquote>\n<p>He noted that the SEC has approved futures-based Bitcoin ETFs under the Securities Act of 1934 and the Investment Company Act of 1940. In the first case, the application was from Teucrium, in the second from<a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-futures-based-bitcoin-etfs-from-vaneck-and-valkyrie-investments\"> VanEck, Valkyrie Investments<\/a> and<a href=\"https:\/\/u1f987.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\"> ProShares<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThis is a trajectory that ends with a spot Bitcoin ETF. So they [the SEC] are indeed progressing, just not at the pace of the crypto community,\u00bb Hogan added.<\/p>\n<\/blockquote>\n<p>Grayscale&#8217;s Head of ETF Strategy David LaValle noted that earlier approval of the spot option in principle raised doubts. Now, in his view, the question is only the timing of the decision.<\/p>\n<p>Valkyrie Investments&#8217; Chief Strategy Officer Lori Tirnan agreed with colleagues, not ruling out the appearance of a spot Bitcoin ETF \u00abin the next few years\u00bb.<\/p>\n<p>The SEC has yet to approve any spot Bitcoin ETF applications. The regulator is set to decide on Bitwise on June 29, and on the conversion of <span data-descr=\"Grayscale Bitcoin Trust\" class=\"old_tooltip\">GBTC<\/span> into an exchange-traded fund based on the first cryptocurrency \u2014 6 July.<\/p>\n<p>Earlier, Grayscale suggested that<a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-suggests-the-sec-may-have-violated-the-law-in-approving-a-futures-based-bitcoin-etf\"> the Commission may have violated the law<\/a> in approving futures-based Bitcoin ETFs. In late March, Grayscale&#8217;s chief executive Michael Sonnenschein did not rule out the possibility<a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-says-it-is-prepared-to-sue-the-sec-if-gbtc-is-not-converted-into-an-etf\"> of filing a lawsuit against the SEC<\/a> if the application was rejected.<\/p>\n<p>Later, Grayscale Investments announced that former U.S. Department of Justice official<a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-hires-former-u-s-solicitor-general-amid-delay-in-gbtc-to-etf-conversion\"> Donald Verrilli Jr.<\/a> joined the firm&#8217;s legal team.<\/p>\n<p>As Bloomberg analyst Eric Balchunas noted, SEC<a href=\"https:\/\/u1f987.com\/en\/news\/opinion-sec-backing-of-clearing-model-change-could-clear-the-way-for-a-spot-bitcoin-etf\"> changes to the clearing model<\/a> could lay the groundwork for listing a spot Bitcoin ETF.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) is expected to issue a positive decision on the launch of a spot Bitcoin ETF in the near term. This view was voiced by Grayscale Investments and Bitwise at the CoinDesk Consensus 2022 conference.<\/p>\n","protected":false},"author":1,"featured_media":62717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[949,943,1211],"class_list":["post-62716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitwise","tag-grayscale-investments","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=62716"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62716\/revisions"}],"predecessor-version":[{"id":62718,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62716\/revisions\/62718"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/62717"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=62716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=62716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=62716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}