Grayscale is lobbying the US SEC to approve options on its spot Bitcoin ETF, according to a Feb. 29 Reuters report. Grayscale CEO Michael Sonnenshein emphasized the importance of offering exchange-listed options for GBTC and other spot Bitcoin ETP investors.

The SEC approved Grayscale’s spot Bitcoin ETF in January, converting it from an existing fund. Sonnenshein argued that rejecting options for GBTC would unfairly discriminate against shareholders, as the SEC has approved options for Bitcoin futures ETFs. He highlighted that options could aid in price discovery, market condition navigation, and hedging, and bring Bitcoin within the regulatory framework, allowing broader market participation.

Grayscale’s lobbying follows the SEC’s decision to open comments on options for its ETF and similar products from Bitwise and other trusts. This move mirrors the SEC’s January call for comments on options for BlackRock's and various Cboe-listed spot Bitcoin ETFs.

Grayscale's efforts are pivotal, as its legal victory against the SEC previously led to the approval of spot Bitcoin ETFs. The firm, along with other asset managers, has also applied for spot Ethereum ETFs, gaining support from Coinbase recently. While Grayscale's letter doesn't compel the SEC to act, its influence could shape future decisions.