Golden Finance reported that Paul Grewal, chief legal officer of Coinbase, said that Coinbase is confident that the U.S. Securities and Exchange Commission will approve the Bitcoin ETF. He did not disclose the specific time, but now the regulator is likely to approve the Bitcoin ETF soon, and emphasized that the regulator failed in court to prevent Grayscale from converting its GBTC Bitcoin Fund into an ETF. Grewal added: "I think the companies that have made strong product and service proposals to us are among the largest blue chips in the financial services sector. We believe that other ETFs will be online soon because the SEC will abide by the law and is required to apply the law to pending applications in a neutral manner. As previously reported, Grayscale has submitted an S-3 filing for GBTC, a simplified version of the typical S-1 filing used to issue new shares, attempting to convert its Grayscale Bitcoin Trust Fund into a spot Bitcoin ETF.
