Coinbase's Grewal Optimistic About Bitcoin Spot ETF Approval

Coinbase's chief legal officer, Paul Grewal, expressed optimism that bitcoin spot exchange-traded fund (ETF) applications will be approved by the U.S. Securities and Exchange Commission (SEC). Grewal believes that these applications should be granted under the law and pointed to the fact that major traditional finance firms, such as BlackRock, have filed for spot ETFs. If approved, a spot bitcoin ETF could boost the price of bitcoin and benefit crypto-related stocks like Coinbase, MicroStrategy, Marathon, and Riot Platforms. Grewal did not provide a timeline for the approvals but expects progress in the near future.