Several Republican and Democratic lawmakers sent a letter to urge Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), to approve the listing of a physically-backed Bitcoin exchange-traded fund (ETF), stating that a regulated Bitcoin ETF will make Bitcoin trading more transparent and secure, thereby enhancing investor protection. The lawmakers said, "Congress has a responsibility to ensure that the SEC approves investment products that meet congressional requirements.
Therefore, we urge you to immediately approve the listing of a physically-backed Bitcoin ETP." Regarding the previous Grayscale lawsuit, lawmakers said, "The court's investigation results highlighted the fundamental point that there is no difference between physically-backed Bitcoin ETP and Bitcoin futures ETP.
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