Grayscale has urged the Securities and Exchange Commission (SEC) to approve all spot Bitcoin exchange-traded fund (ETF) applications simultaneously, arguing that the regulator should not pick winners and losers. The company's chief legal officer, Craig Salm, said the SEC should act in a fair and orderly manner. Grayscale has taken the SEC to court over repeated denials to convert its flagship Bitcoin fund into a spot Bitcoin ETF. The SEC has rejected applications for a spot Bitcoin ETF for over a decade, citing concerns over potential fraud and manipulation.