Grayscale Knocks Regulators for Approving a Leveraged Bitcoin ETF While Rejecting Their Spot Bitcoin ETF

Grayscale, a crypto asset manager, criticized regulators for approving a leveraged bitcoin-based ETF while their own spot bitcoin ETF application was rejected by the SEC. In a letter to the U.S. Court of Appeals, Grayscale's lawyers claimed that the approved leveraged ETF is even riskier than their own products. The SEC's rejection of Grayscale's application prompted the company to file an appeal, and a ruling is expected by the end of the year.