The SEC has asked Grayscale Investments to withdraw its application for a Filecoin Trust product, citing concerns that the underlying asset, Filecoin (FIL), could be seen as a security. Grayscale had initially lodged a Form 10 application with the regulator to launch an updated Filecoin Trust product, which would file quarterly reports on its financial activity. Grayscale believes that Filecoin is not a security and plans to respond promptly to the SEC staff with an explanation of its legal basis for this position.
– The SEC has asked Grayscale Investments to withdraw its application for a Filecoin Trust product, citing concerns that the underlying asset, Filecoin (FIL), could be seen as a security.
– Grayscale had initially lodged a Form 10 application with the regulator to launch an updated Filecoin Trust product, which would file quarterly reports on its financial activity.
– Grayscale believes that Filecoin is not a security and plans to respond promptly to the SEC staff with an explanation of its legal basis for this position.
