According to Coinbase’s chief legal officer, Paul Grewal. The company is confident that the U.S. Securities and Exchange Commission, according to Paul Grewal, the company’s chief legal officer.

According to Grewal, “I’m quite hopeful that these [ETF] applications will be granted, if only because they should be granted under the law.”

A judge recently ruled that the SEC’s decision to deny Grayscale’s bid to turn its GBTC bitcoin fund into an ETF was without basis.

A bitcoin-related ETF will likely be approved in the coming months after the SEC declined to appeal that ruling last week.

According to Grewal, the companies that have submitted robust proposals to us for these products and services are among some of the biggest blue-chip companies in financial services.

That, I think, indicates that progress there will be made soon.”

Neither he nor the SEC said when that might happen, and added that any decision would be up to them.

Grewal said it’s likely now that regulators will approve a bitcoin ETF soon, citing the regulator’s failure to prevent Grayscale from converting its GBTC bitcoin fund to an ETF.

In light of the U.S. Court of Appeals ruling that the SEC could not reject these applications arbitrarily or capriciously, we can expect the commission to fulfill its duties. That’s something I’m quite certain of.”

The bitcoin ETF would allow investors to own bitcoin without having to make a direct purchase.

It might be more appealing for retail investors to gain exposure to bitcoin without actually owning it.

A bitcoin ETF that is approved would likely benefit Coinbase. An investor can gain exposure to crypto through the company, the largest crypto exchange in the U.S.