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Grayscale Criticizes SEC for Approving Leveraged Bitcoin-Based ETF, While Its Own Application Was Rejected
One of the leaders in digital currency investing Grayscale Investments LLC has criticized the United States Securities and Exchange Commission (SEC) for approving a leveraged Bitcoin (BTC) exchange-traded fund (ETF). Previously, the SEC had rejected Grayscale’s spot Bitcoin ETF application. Now, Grayscale is suing the regulatory agency over a violation of the Administrative Procedures Act.
On June 27, Volatility Shares Trust’s leveraged Bitcoin futures ETF was listed on Cboe BZX Exchange, without the interference from SEC in the process. Meanwhile, Volatility Shares Trust was expecting a denial since SEC has a pattern of rejecting numerous crypto-linked ETF applications. Neither SEC nor the US Commodity Futures Trading Commission approved or disapproved the proposed ETF, and Volatility Shares Trust’s registration statement came into effect. The fund looks for inv
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