America’s largest cryptocurrency exchange, Coinbase, is putting its weight behind Grayscale—the world’s largest Bitcoin fund—in its legal battle with the Securities and Exchange Commission (SEC). Grayscale is suing the federal regulator over its refusal to approve the company’s application, or any other, for a Bitcoin ETF. The fund claims the SEC is “failing to apply consistent treatment to similar investment vehicles,” as evidenced by the Commission’s willingness to approve multiple Bitcoin futures ETFs, but refusal to allow spot market ETFs to go forward. Coinbase’s ...
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