Grayscale has urged the SEC to approve any qualifying Bitcoin spot ETF applications simultaneously and avoid favoritism. However, Grayscale has also argued that Coinbase should not be considered a suitable surveillance partner for launching a Bitcoin spot ETF. The SEC's decision on these matters could create more clarity and stability in the cryptocurrency market.

Grayscale has urged the Securities and Exchange Commission (SEC) to approve all spot Bitcoin exchange-traded fund (ETF) applications simultaneously, arguing that the regulator should not pick winners and losers. The company's chief legal officer, Craig Salm, said the SEC should act in a fair and orderly manner. Grayscale has taken the SEC to court over repeated denials to convert its flagship Bitcoin fund into a spot Bitcoin ETF. The SEC has rejected applications for a spot Bitcoin ETF for over a decade, citing concerns over potential fraud and manipulation.

Grayscale's GBTC volume has surged, indicating bullish sentiment in fiat markets. The number of addresses holding more than 1 Bitcoin has also increased, with whales showing interest in Bitcoin.

Investors are eagerly anticipating the approval of the first exchange traded fund (ETF) for spot markets, following the approval of 2X Volatility Shares to start trading the first ETF in leveraged Bitcoin futures.

Grayscale has added Lido to its DeFi fund, becoming the second-largest asset with a 19.04% share. Lido's liquid staking service offers stETH, the seventh-largest cryptocurrency, which provides cheaper staking on Ethereum. However, Grayscale's DeFi fund has underperformed since its launch, with a significant decline of over 73% and only $3.1 million in assets, in contrast to Grayscale's Bitcoin Trust, which has over $18 billion. Lido met the requirements for CoinDesk's DeFi Select Index (DFX) and was officially included in July.

Shares in Grayscale's Bitcoin Trust have surged by 57% since BlackRock filed for a spot bitcoin ETF on June 15. The trust's discount to net asset value is currently at 29.3%, the first time it has traded below 30% since July last year.

July 5 (Cointime) - The fate of Bitcoin's price for the rest of the year depends on whether a Bitcoin spot ETF will be approved in the US. Joe Carlasare, a commercial litigator supporting Bitcoin, believes that there is a 30-40% chance of such a product launching within a year.

June 28 (Cointime) - BlackRock's recent application for a spot bitcoin ETF has a 50% chance of being approved by the SEC, according to Bloomberg's senior ETF strategist Eric Balchunas.

June 27 (Cointime) - The news of BlackRock filing for a bitcoin ETF has generated excitement in the crypto market, with some calling it the start of a new "crypto summer." GoldenTree's head of digital asset trading, Avi Felman, believes that Grayscale's GBTC shares could benefit the most from this development.

June 26 (Cointime) - The discount of Grayscale's Bitcoin Trust to its net asset value has decreased due to the recent filings for spot bitcoin exchange-traded funds. On June 23, GBTC was trading at a discount of 31.32% to NAV, which is a decrease from the 44.02% discount on June 13.