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The SEC Wants to Know What You Think About Bitcoin ETFs

  • U.S. regulator inquires whether funds could be used for fraud
  • Notice comes after denial of six similar funds since November
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The U.S. Securities and Exchange Commission is seeking advice from the public about whether exchange-traded funds linked directly to the price of Bitcoin could be a vehicle for fraud, highlighting concerns about a submission from one of the biggest trusts holding the token.

The regulator issued a notice on Friday calling for members of the public to submit written comment regarding Grayscale Investments LLC’s application to turn its Grayscale Bitcoin Trust (ticker GBTC) into an ETF tied to Bitcoin’s spot price. The SEC had done the same a few days earlier in a notice regarding another application to launch a Bitcoin ETF, this one submitted by Bitwise.