The US Securities and Exchange Commission (SEC) will soon make a positive decision on the launch of a spot bitcoin ETF. This view was voiced by representatives of Grayscale Investments and Bitwise during the CoinDesk Consensus 2022 conference.

Managers @grayscale, @bitwiseinvest and @ValkyrieFunds the whole expression is optimistic #consensus2022 it’s a point #bitcoins It was on its way to being approved by the ETF. @SECGov.
With @NelWanghttps://t.co/8KfTW7DIwo

— CoinDesk (@CoinDesk) 10 June 2022

“There is a perception in the crypto industry that the SEC said no, and now the facts show it,” said Matt Hoogan, chief investment officer at Bitwise Asset Management.

He recalled that the SEC has approved bitcoin futures ETFs that comply with the Securities and Exchange Act of 1934 and the Investment Company Act of 1940. In the first case we are talking about Teucrium, in the second we are talking about an application from VanEck, Valkyrie Investments and ProShares.

“This is progress that ends with a spot Bitcoin ETF. Like this [SEC] It’s really moving forward, not just at the pace of the crypto community,” added Hoogan.

Grayscale’s ETF head, David LaValle, previously stated that approving a spot option is controversial in principle. Now, according to him, the only question is the timing of this decision.

Laurie Tiernan, chief strategy officer at Valkyrie Investments, agreed with her colleagues and did not exclude the emergence of a spot bitcoin ETF “in the next few years.”

The SEC has yet to approve any application to launch a spot Bitcoin ETF. The editor should make a decision on the conversion on Bitwise on June 29. GBTC July 6 – the first cryptocurrency-based exchange-traded fund.

Earlier, Grayscale admitted that the Commission violated the law in approving bitcoin futures ETFs. At the end of March, the company’s president, Michael Sonnenschein, did not rule out the possibility of filing a lawsuit with the SEC if the application was rejected.

Grayscale Investments later announced that former US Department of Justice spokesman Donald Beaton Verrilli Jr. has joined the firm’s legal team.

Recall, Bloomberg analyst Eric Balciunas admitted that the SEC’s agreement with a change in the swap model would create preconditions for a spot bitcoin ETF to be listed.