KEY POINTS
  • Coinbase is confident that a U.S. bitcoin exchange-traded fund will be approved by the Securities and Exchange Commission, the company's chief legal officer, Paul Grewal, told CNBC.
  • He didn't say when that's likely to happen, and added the caveat that any decision would ultimately be up to the SEC.
  • But, Grewal said, it's likely now that the SEC will approve a bitcoin ETF soon, highlighting the regulator's failure in court to block Grayscale from converting its GBTC bitcoin fund into an ETF.

Coinbase is confident that a U.S. bitcoin exchange-traded fund will be approved by the U.S. Securities and Exchange Commission, the company's chief legal officer, Paul Grewal, told CNBC.

"I'm quite hopeful that these [ETF] applications will be granted, if only because they should be granted under the law," Grewal said in an interview with CNBC's Arjun Kharpal.