Coinbase's Chief Legal Officer, Paul Grewal, expressed optimism about the SEC approving a U.S. Bitcoin ETF, stating that the financial watchdog will fulfill its responsibilities. This comes after a court decision found no grounds for the SEC's refusal of Grayscale's proposal to transform its GBTC Bitcoin fund into an ETF. The acceptance of a Bitcoin ETF could provide investors an alternative to direct Bitcoin purchases on exchanges, potentially benefiting Coinbase.