In a recent interview with CNBC, Paul Grewal, the Chief Legal Officer of Coinbase, expressed confidence in the approval of a U.S. Bitcoin spot ETF by the Securities and Exchange Commission (SEC). Grewal cited a recent decision by the U.S. Court of Appeals, emphasizing that the SEC cannot reject such applications arbitrarily or capriciously.
According to Grewal, this legal clarification sets the stage for the commission to fulfill its responsibilities, and he is quite optimistic about the approval process.
Paul Grewal’s Confidence in SEC Approval
Grewal expressed his confidence, saying, “I think that, after the U.S. Court of Appeals made clear that the SEC could not reject these applications on an arbitrary or capricious basis, we’re going to see the commission fulfill its responsibilities. I’m quite confident of that.”
This statement comes at a time when the cryptocurrency market is closely watching regulatory developments, particularly regarding the approval of a Bitcoin spot ETF in the United States. The approval of such an ETF is seen as a significant milestone for the broader acceptance and integration of cryptocurrencies into traditional financial markets.