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ETH 
ZEC Gray Company urges the SEC to maintain existing regulatory rules for crypto ETFs
Gray Company recently urged the U.S. Securities and Exchange Commission to retain existing regulatory rules for cryptocurrency exchange-traded funds, and opposed the proposal to set new unified restrictions for related products. The core of the request is to maintain the current regulatory framework rather than revise it.
What Grayscale requires the SEC to maintain
Grayscale, a16z and the Crypto Innovation Committee, jointly submitted opinions to the SEC, requesting that unified restrictions on crypto ETFs be avoided and existing rules remain unchanged. According to relevant commentary documents, its core demand is to maintain regulatory continuity rather than make large-scale rule changes. These comments were submitted in response to the SEC rule-making file as part of the public comment process for Proposal S7-2026-24. The currently controversial "existing crypto ETF rules" refer to the relevant listing and regulatory standards that have allowed spot crypto ETF trading.
Grayscale believes the current framework is feasible, and uniform caps or new category restrictions will disrupt products already operating under the framework. The company positioned the request as protecting existing regulatory benchmarks rather than seeking new concessions.
Importance of existing frameworks to issuers
Relevant SEC documents have been filed and released as formal rules, establishing terms for issuers and commentators to respond. For applicants, the stability of these terms determines how new products are built and reviewed. Gray has always been an active issuer under the current system and has begun to add pledge functions to its Ethereum ETF and expand its business line with new trust products. The continuity of rules directly affects the advancement of these product plans.
The company's push also follows a series of filings related to product launches, including SEC filings related to the Zcash ETF issuance. Predictable rules allow issuers to plan product conversions and new listings without having to readjust the approval path halfway. During the same discussion, investors also expressed different opinions on the new ETF structure, highlighting how regulatory consistency and regulatory flexibility can steer results in different directions.
Points of concern for follow-up
The first signal to pay attention at this time is how the SEC responds to the review record in the case file and whether it will move towards uniform restrictions or maintain existing standards. The public comment solicitation stage is usually the period when this direction takes shape. The second focus is whether other large issuers will echo Gray's position in the same window, which will strengthen the argument for maintaining the status quo. Gray itself continues to submit documents, including work related to its Zcash ETF revisions and DCG negotiations.
Currently, the results depend on the SEC's next move in the S7-2026-24 process. Readers concerned about crypto ETF regulation should pay attention to the agency's handling of comments and the wording of any revised proposal.
