Important details concerning the creation and redemption procedures, cash and in-kind models, asset protection, loss prevention and custody “were figured out” in the spot Bitcoin ETF applications, the Grayscale executive explained.
Grayscale is confident that spot Ether (ETH) exchange-traded funds will be approved in May despite recent “chatter” about the U.S. securities regulator’s “lack of engagement” with applicants.
“I don’t think perceived lack of engagement from regulators should be indicative of one outcome or another [...] I personally am not deterred by it and believe the ETFs should be approved,” explained Grayscale Chief Legal Officer Craig Salm in an X post on March 25.
Salm explained that in the months before spot Bitcoin ETFs were approved, many of the issues common to spot Ether ETFs “were figured out” — such as details of creation and redemption procedures, cash and in-kind models, asset protection, loss prevention, and custody.
