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Crypto-Owning Toomey Blasts SEC Over Grayscale Bitcoin ETF Rejection

  • Senator pleased agency’s decision is being challenged in court
  • He last year disclosed investment in Grayscale Bitcoin Trust
Senator Pat Toomey speaks during the CoinDesk 2022 Consensus Festival in Austin, Texas, in June.

Senator Pat Toomey speaks during the CoinDesk 2022 Consensus Festival in Austin, Texas, in June.

Photographer: Jordan Vonderhaar/Bloomberg
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Senator Pat Toomey is stepping up his criticism of the Securities and Exchange Commission after the regulator refused to allow Grayscale Investments to offer the US’s first Bitcoin exchange-traded fund.

The Senate Banking Committee’s top Republican said on Friday that he looked forward to the SEC’s position being challenged in court, without naming Grayscale. The firm has sued the regulator over its refusal to green light a plan to convert the Grayscale Bitcoin Trust into an ETF.