Coinbase’s Chief Legal Officer, Paul Grewal, has expressed optimism about the approval of a Spot Bitcoin Exchange Traded Fund (ETF) by the United States Securities and Exchange Commission (SEC). In an interview with CNBC, Grewal stated that he believes the SEC should fulfill its responsibilities and approve the ETF applications, as they are in line with the law. He mentioned that the firms proposing well-structured ETFs for Bitcoin are major players in the financial services industry, indicating that progress is likely to be made in the near future. Grewal’s confidence in the approval of a Bitcoin ETF is reinforced by recent developments, including a court ruling that the SEC had no grounds to deny the approval of Grayscale’s Bitcoin ETF conversion. He expects the SEC to fulfill its responsibilities and approve a Bitcoin ETF.
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