Grayscale Investments has called for the U.S. Securities and Exchange Commission (SEC) to approve all spot bitcoin exchange-traded fund (ETF) applications simultaneously, in order to grant equal treatment to all applicants. “An approval of only the listed proposals would reflect a positive, but sudden and significant change in the Commission’s application of the relevant statutory standard, and as such would improperly grant an unfairly discriminatory and prejudicial first-mover advantage to these proposals,” the company said in a statement to the agency on Thursday. Grayscale is currently locked in a legal battle with the SEC to have its own application to convert its Grayscale Bitcoin Trust (GBTC) into an ETF approved.
Meanwhile, Bitcoin (BTC) held above $29,000 early Friday, while Japanese and U.S. government bond yields rose after the Bank of Japan (BOJ) announced a slight hawkish tweak to its liquidity-boosting bond-buying program known as yield curve control (YCC). The yield on the 10-year Japanese Government Bond (JGB) is higher by 11 basis points to 0.55%.
Mark Yusko, Morgan Creek Capital Management founder and CEO, predicted that Bitcoin could reach $300,000 by 2028 on CoinDesk TV’s First Mover. Yusko argued that the digital asset could eventually catch up to the precious metal’s valuation, saying “The monetary value of gold is about $6 trillion, I think bitcoin can replace all of that, the monetary equivalent of $6 trillion is about a 10X from here, which gives us a price of about $300K.”