Grayscale Investments, venture capital firm a16z and the Crypto Council for Innovation urged the U.S. Securities and Exchange Commission (SEC) to avoid imposing uniform restrictions on “novel” exchange traded funds.
Summary
- Grayscale, a16z and CCI urged the SEC to assess novel products using individual risk characteristics.
- All three opposed automatically treating products holding nonsecurities as investment companies under existing federal law.
- A16z requested coordinated registration and exchange reviews, alongside clearer timelines for prospective ETF issuer applicants.
- Grayscale and CCI supported optional confidential prefiling discussions to identify regulatory…
