Grayscale, a16z, and the Crypto Council for Innovation have urged the U.S. Securities and Exchange Commission (SEC) to refrain from categorizing new exchange-traded products under a single set of rules and instead evaluate them based on their specific risks and structures.
The companies also opposed the automatic extension of investment company regulations to products that involve non-security assets. Among their suggestions are more predictable review timelines and the option for confidential preliminary approval of applications.