Grayscale, a16z and the Crypto Innovation Council are pushing for faster crypto ETF approvals as the SEC reviews comments on "new types of ETFs," while Charles Schwab and Jane Street urged a more cautious approach focused on transparency and product quality.
Grayscale backed confidential filings to curb AI-assisted copycat ETF applications and said the SEC should respond within 45 days. a16z and CCI also supported quicker decisions, while saying faster timelines should not weaken review standards. Charles Schwab opposed full confidentiality, arguing public filings help firms prepare, and said any confidential process should still include at least 75 days of public disclosure. Jane Street warned that rapid approvals could produce low-quality, low-liquidity products and expose retail investors to wider bid-ask spreads.
The debate comes as the SEC gathers feedback on crypto ETF listing standards. The U.S. market currently has 174 crypto asset-related ETFs, with BlackRock's IBIT managing about $61 billion, or roughly 38% of the sector.
Grayscale, a16z, Schwab and Jane Street Clash Over Crypto ETF Approval Rules
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