Grayscale Investments’ Chief Legal Officer, Craig Salm, has expressed confidence over the imminent arrival of a spot bitcoin exchange-traded fund (ETF).
Salm voiced his optimism during a recent SiriusXM radio interview. The discussion followed the Securities and Exchange Commission (SEC)’s announcement that it would not appeal a court ruling mandating it to reconsider Grayscale’s bid to turn its flagship GBTC fund into a spot bitcoin ETF.
Salm revealed that Grayscale has been actively engaging lawmakers in Washington as two significant crypto regulation bills are under consideration. One bill focuses on rules for stablecoins, while the other proposes a comprehensive approach to crypto regulation. Both passed the House Financial Services Committee during the summer and await a full House vote.
Despite the positive momentum, a spot bitcoin ETF is not yet a guarantee. Several steps must be completed before it hits the market, and the SEC’s decision not to appeal does not necessarily imply approval.
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