Coinbase’s Chief Legal Officer, Paul Grewal, expressed confidence in the approval of a U.S. Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). This optimism arises from a recent court ruling that found the SEC had no grounds to deny Grayscale’s request to convert its GBTC bitcoin fund into an ETF. With the SEC choosing not to appeal the ruling, the path appears clearer for a Bitcoin-related ETF to gain approval in the near future. Coinbase believes that financial industry leaders’ strong proposals will drive progress in this regard, although the final decision rests with the SEC.