The Coinbase team has called on the U.S. Securities and Exchange Commission (SEC) to approve Grayscale’s application to launch a spot Ethereum (ETH) ETF. The company’s chief lawyer, Paul Grewal, believes that approval of Grayscale’s application is necessary through the preliminary conversion of the ETH trust into an instrument. Coinbase shared a call with the SEC to approve the tool as part of the regulator’s comment process on the application. Grewal noted that the crypto exchange had presented the Commission with a “legal, technical and economic justification” for allowing the launch of Grayscale’s Ethereum spot ETF.