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Grayscale Sends Reply Brief to SEC in ETF Suit

Grayscale responded to the denial in court by claiming that the SEC had acted arbitrarily in treating spot traded exchange-traded products differently than futures traded products. It stated:

“There is a 99.9% correlation between prices in the Bitcoin futures market and the spot Bitcoin market.”

The company also claimed that the SEC overstepped its bounds, commenting:

“The Commission is not permitted to decide for investors whether certain investments have merit– yet the Commission has done just that, to the detriment of the investors and potential investors it is charged to protect.”

Grayscale SEC
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