Crypto funding firm Grayscale Investments penned a letter to the U.S. Securities and Alternate Commission, urging the regulator to take care of all functions for spot Bitcoin exchange traded funds (ETFs) equally.

In the July 27 comment letter, Grayscale referred to the “surveillance-sharing settlement” that some of the spot Bitcoin ETF applicants, including BlackRock, VanEck, WisdomTree and Fidelity, possess integrated of their respective proposals.

The surveillance sharing settlement (SSA) is an settlement between the list exchange and a crypto exchange, on this case Coinbase, that shares facts about market shopping and selling exercise, clearing exercise and buyer identity.

“But as the Commission knows, the different of a surveillance-sharing settlement between a list exchange and a spot bitcoin shopping and selling venue will not be a brand new thought,” stated Grayscale within the letter, arguing that the regulator is already in a place to approve a spot Bitcoin ETF with out this kind of provision.

The firm extra acknowledged that approving completely those functions would not completely assume a surprising exchange within the manner the SEC applies the connected statutory identical outdated, but additionally improperly grant an “unfairly discriminatory and prejudicial first-mover support” to these proposals.

“As a disclosure-basically based regulator, the SEC might possibly doubtless impartial peaceful not select winners and losers; as an different, the SEC might possibly doubtless impartial peaceful continue to offer issuers with ideas or guidance repeatedly and equitably,” stated Grayscale.

Grayscale is for the time being worried in a impartial fight with the SEC over the regulator’s denial of its utility to transform its flagship Bitcoin fund GBTC into a spot Bitcoin ETF. (Grayscale CEO Michael Sonnenshein gets into ingredient about the firm’s case against the SEC and what this can operate if it loses, on this episode of Unchained.)