Grayscale Files Lawsuit Against SEC Over Spot Bitcoin ETF Rejection
Grayscale Investments, the world’s largest digital currency asset manager, has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) challenging the securities regulator’s decision to reject its application to convert the Grayscale Bitcoin Trust to a spot bitcoin exchange-traded fund (ETF). Grayscale Takes SEC to Court Over Spot Bitcoin ETF Application Grayscale Investments filed a “petition for review” Wednesday challenging the decision by the U.S. Securities and Exchange Commission (SEC) to deny the company’s application....
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With the approvals of futures bitcoin ETFs, firms have taken it one step further and have applied with the Securities and Exchanges Commission (SEC) for spot-based bitcoin ETFs. However, unlike their futures and short counterparts, the spot ETFs have not found favor in the eyes of the regulatory watchdog. And as more spot-based bitcoin ETF applications are declined by the SEC, questions have arisen about whether the market will see one anytime soon. Grayscale And Bitwise Applications Rejected Over the last month, anticipation had built up regarding spot-based Bitcoin ETF filings by both....
A letter to the secretary of the SEC outlines discrepancies in its rejection of Bitcoin spot ETFs and acceptance of Bitcoin futures ETFs. Grayscale Investments has fired back a the U.S. Securities and Exchange Commission (SEC) over the recent rejection of VanEck’s spot Bitcoin ETF application.The operator of the Grayscale Bitcoin Trust (GBTC) issued a letter to Secretary of the SEC, Vanessa Countryman, on Nov. 29 to argue the SEC is wrong to reject spot Bitcoin ETFs since it has now approved three Bitcoin futures ETFs, one each from VanEck, Valkyrie, and ProShares. Grayscale argues that....
Grayscale Investments announced today that the NYSE Arca has filed to convert the firm’s flagship product, the Grayscale Bitcoin Trust (GBTC) into a Bitcoin Spot ETF.
Grayscale argues that the differences between futures and spot Bitcoin ETFs have no correlation to approvals because prices are based on the same spot Bitcoin markets. Asset management firms continue to fight for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States as regulators remain skeptical of the idea.Craig Salm, chief legal officer at asset manager Grayscale, discussed the firm's lawsuit with the United States Securities and Exchanges Commission (SEC) regarding the conversion of the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. Salm explained the basis for....
Grayscale Investments is shutting down its Grayscale XRP Trust and liquidating its XRP holdings in order to distribute cash proceeds to the trust’s shareholders. The firm cited difficulty in converting XRP into U.S. dollars following the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple. Grayscale Axes XRP Trust Grayscale Investments announced Wednesday that it is commencing the “dissolution of Grayscale XRP Trust.” The company detailed that on Dec. 22, the U.S. Securities and Exchange Commission (SEC) decided “to file a federal court....