Effort to Reverse Bitcoin Fund Rejection Wins Broad Crypto Industry Support

“The Commission’s ‘thumb on the scale’ approach does not withstand scrutiny,” the groups said, calling spot Bitcoin ETPs “ideally suited for investors that desire exposure to Bitcoin. The groups added that the SEC had allowed “similar, riskier products to enter the market,” and that spot ETPs plainly satisfy regulatory requirements for listing on national exchanges,” similar to Bitcoin futures ETPs.