Grayscale solicits advocacy for the approval of its Bitcoin Spot ETF

Crypto asset manager Grayscale has reportedly launched a marketing campaign asking people “to advocate for a Bitcoin ETF” to the United States Securities and Exchange Commission (SEC).

A Grayscale advert appeared in Washington D.C.’s Union Station, saying “we care about crypto investors,” and included a QR code that takes people to a page where they can submit comments to the SEC.

According to Decrypt.co, the QR code directs users to submit comments to the SEC.

Grayscale’s vice president of communications Jennifer Rosenthal also told Decrypt that

The advertising campaign was launched in April and will end in July, according to Grayscale’s vice president of communications Jennifer Rosenthal.

Rosenthal said that the campaign is also running in various newspapers, including the New York Times, Wall Street Journal, and The Washington Post.

Grayscale’s campaign is part of its larger ambition to finally see a Bitcoin spot exchange-traded fund (ETF) approved by the SEC.

The federal securities regulator has so far rejected every spot ETF application.

The application process is now in an open review period, so anyone can submit comments to the SEC for consideration.

Reportedly, over 2,600 comments have been submitted so far.

A crypto ETF would present a cheaper alternative to the management fees of crypto trusts. It would also help Grayscale repeg its Bitcoin Trust to the actual price of the underlying asset.