Greyscale CLO ກ່ຽວກັບການຮັບເອົາການປະຕິເສດ bitcoin ETF ຂອງພວກເຂົາຕໍ່ສານ

ຕອນ 78 of Season 4 of The Scoop was recorded remotely with The Block’s Aislinn Keely and Craig Salm, Chief Legal Officer at Grayscale.

ຟັງຂ້າງລຸ່ມນີ້, ແລະສະ ໝັກ ສະມາຊິກ The Scoop on ຈາກຫນາກແອບເປີ, Spotify, Google Podcasts, Stitcher ຫຼືບ່ອນໃດກໍຕາມທີ່ທ່ານຟັງ podcasts. ຄໍາ​ຮ້ອງ​ສະ​ຫມັກ​ອີ​ເມລ​໌​ແລະ​ການ​ຮ້ອງ​ຂໍ​ການ​ແກ້​ໄຂ​ເພື່ອ​ [email protected].

The US has yet to see a spot bitcoin exchange-traded fund (ETF) reach the market, but when a futures-based product got the green light from the Securities and Exchange Commission (SEC) last year, issuers were hopeful.

Some thought it signified the regulator becoming more comfortable with crypto products and a spot ETF could be on the horizon. But since then, the SEC continued to shoot down application after application on the basis that there aren’t sufficient mechanisms to prevent price manipulation in the spot market.

Grayscale, which has long desired to convert its flagship GBTC product into an ETF, took issue with this. During the SEC’s continued extensions on its application, and after a series of rejections of other similar applications, the firm sent a letter saying the regulator could be violating its own procedures by approving a futures product but refusing to allow a spot-based product. The firm argued that futures are priced based on the underlying spot market, meaning any price manipulation in the spot market would affect futures products.

The idea is if the regulator is comfortable with futures, it should be comfortable with a spot-based product.

But Grayscale, too, received a rejection weeks later, spurring it to mount a legal challenge in the DC Court of Appeals. Now, it’s gearing up to submit its first brief in the case, detailing its qualms with the SEC’s rejection of its application.

In this week’s episode of Policy Scoop, Aislinn Keely sat down with Grayscale’s Chief Legal Officer, Craig Salm, to take an in-depth look at the firm’s argument.

“It wasn’t a decision that we made lightly, and during the course of that comment letter period, we had a couple of meetings with the Commission to try to work through their questions and the issues presented, lay out the arguments and reasoning why we felt that if they were okay with futures, they should now be okay with spot,” said Salm. “It seemed like a natural progression and we were excited by the level of development that we were seeing in the Bitcoin futures markets. Ultimately, we got to a point where we just reached a disagreement.”

In this episode of Policy Scoop, Keely and Salm also discuss:

• How the market has changed since the earliest bitcoin ETF proposals.
• Why the push for a bitcoin ETF requires a legal challenge.
• What happens if the firm wins its court case.
• Why it feels the SEC’s denial of its product could be “arbitrary and capricious.”
• The next steps in the case.

ຕອນນີ້ຖືກນຳມາສະເໜີທ່ານໂດຍຜູ້ສະໜັບສະໜຸນຂອງພວກເຮົາ Tron, Chainalysis &IWC Schaffhausen
ກ່ຽວກັບ Tron
ໃນວັນທີ 1 ເດືອນສິງຫາ, 2022, Poloniex ໄດ້ເປີດຕົວລະບົບການຊື້ຂາຍທີ່ໄວກວ່າ ແລະໝັ້ນຄົງກວ່າພ້ອມກັບ a ຍີ່ຫໍ້ສ່ວນຕິດຕໍ່ຜູ້ໃຊ້ໃຫມ່. Poloniex ໄດ້ສ້າງຕັ້ງຂຶ້ນໃນເດືອນມັງກອນ 2014 ເປັນເວທີການຄ້າ cryptocurrency ທົ່ວໂລກ. ດ້ວຍການບໍລິການ ແລະຄວາມປອດໄພລະດັບໂລກ, ມັນໄດ້ຮັບທຶນໃນປີ 2019 ຈາກນັກລົງທຶນທີ່ມີຊື່ສຽງ, ລວມທັງທ່ານ Justin Sun, ຜູ້ກໍ່ຕັ້ງ TRON. Poloniex ສະຫນັບສະຫນູນການຊື້ຂາຍຈຸດແລະຂອບເຊັ່ນດຽວກັນກັບ tokens leveraged. ການ​ບໍ​ລິ​ການ​ຂອງ​ມັນ​ມີ​ໃຫ້​ກັບ​ຜູ້​ຊົມ​ໃຊ້​ໃນ​ເກືອບ 100 ປະ​ເທດ​ແລະ​ພາກ​ພື້ນ​ທີ່​ມີ​ພາ​ສາ​ຕ່າງໆ​ທີ່​ມີ​ຢູ່​. ສໍາລັບຂໍ້ມູນເພີ່ມເຕີມໄປຢ້ຽມຢາມ Poloniex.com

ກ່ຽວກັບ Chainalysis
Chainalysis ເປັນແພລະຕະຟອມຂໍ້ມູນ blockchain ຊັ້ນນໍາ. ພວກເຮົາສະຫນອງຂໍ້ມູນ, ຊອບແວ, ການບໍລິການ, ແລະການຄົ້ນຄວ້າໃຫ້ແກ່ອົງການຂອງລັດຖະບານ, ການແລກປ່ຽນ, ສະຖາບັນການເງິນ, ແລະບໍລິສັດປະກັນໄພແລະຄວາມປອດໄພທາງອິນເຕີເນັດໃນຫຼາຍກວ່າ 60 ປະເທດ. ສະຫນັບສະຫນູນໂດຍ Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, ແລະບໍລິສັດຊັ້ນນໍາອື່ນໆໃນການລົງທຶນ, Chainalysis ສ້າງຄວາມໄວ້ວາງໃຈໃນ blockchains ເພື່ອສົ່ງເສີມເສລີພາບທາງດ້ານການເງິນຫຼາຍຂຶ້ນໂດຍມີຄວາມສ່ຽງຫນ້ອຍ. ສໍາລັບຂໍ້ມູນເພີ່ມເຕີມ, ໄປຢ້ຽມຢາມ www.chainalysis.com.

ກ່ຽວກັບ IWC Schaffhausen
IWC Schaffhausen ເປັນຜູ້ຜະລິດໂມງຫລູຫລາຂອງສະວິດທີ່ຕັ້ງຢູ່ໃນ Schaffhausen, ສະວິດເຊີແລນ. ເປັນທີ່ຮູ້ຈັກສໍາລັບວິທີການວິສະວະກໍາທີ່ເປັນເອກະລັກຂອງຕົນໃນການຜະລິດໂມງ, IWC ປະສົມປະສານທີ່ດີທີ່ສຸດຂອງຝີມືຂອງມະນຸດແລະຄວາມຄິດສ້າງສັນກັບເຕັກໂນໂລຊີແລະຂະບວນການທີ່ທັນສະໄຫມ. ດ້ວຍຄໍເລັກຊັນຕ່າງໆເຊັ່ນ: ໂມງ Portugieser ແລະ Pilot's Watches, ຍີ່ຫໍ້ໄດ້ກວມເອົາທັງໝົດຈາກໂມງທີ່ສະຫງ່າງາມຈົນເຖິງໂມງກິລາ. ສໍາລັບຂໍ້ມູນເພີ່ມເຕີມ, ໄປຢ້ຽມຢາມ IWC.com

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