Grayscale Urges SEC on GBTC Options, Citing Inconsistency

Last updated: March 1, 2024 11:48 AM

Published 2024-03-01

Grayscale Investments has urged the SEC to allow options trading on Bitcoin Trust (GBTC), saying it would be in the best interest of investors and provide fair competition with similar products.

Grayscale sent letter to SEC saying rejection of options on GBTC would “unfairly discriminate" against its shareholders…

Noted SEC approved options on bitcoin futures ETFs.

Another potential lawsuit?

via @hannahdlang pic.twitter.com/w8uBjKrQfF
— Nate Geraci (@NateGeraci) February 29, 2024

The president of ETF Store, Nate Geraci, made legal conjectures after Grayscale’s petition to the SEC highlighted what they considered unfair discrimination against shareholders. SEC has also approved trading options for ETFs that are connected to Bitcoin futures.

Michael Sonnenshein, the CEO of Grayscale, clearly talks about the significance of creating a strong market for options on spot Bitcoin ETFs. His main aim is to show how quickly options for futures-based exchange-traded funds (ETFs) are approved while regulatory obstacles continue to cause delays for spot ETFs.

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