Grayscale Is Suing The SEC For Denying Its Spot Bitcoin ETF
Grayscale Investments announced it will sue the U.S. SEC for denying its application to convert its fund into a spot bitcoin ETF.Grayscale Investments is suing the SEC for denying its application to convert GBTC into an ETF. The filing was submitted yesterday evening by the former top legal mind that served in the Obama administration as U.S. solicitor general.Over 11,000 comment submissions were sent to the SEC by investors, 99% of which were positive towards the transition of GBTC into an ETF. Grayscale Investments, one of the world’s largest digital asset managers, is suing the U.S.....
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The SEC must submit its brief by Nov. 9. After that, Grayscale will then submit a reply brief on Nov. 30 before both parties submit a final brief on Dec. 21. Digital asset manager Grayscale has filed its opening brief against the U.S. Securities Exchange Commission (SEC) to challenge its decision denying Grayscale’s application to convert the Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF.The world’s largest digital asset management firm filed its opening legal brief on Oct. 11 in the U.S. Court of Appeals in the District of Columbia Circuit, in which it claimed the SEC’s knockback....
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....
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.
We may see a physically-settled, spot Bitcoin ETF on the market sooner than later, as Grayscale announces intention to file as early as next week.
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....