Why The SEC Will Reject Grayscale’s Bitcoin Linked Spot ETF
The U.S. Securities and Exchange Commission (SEC) will announce its decision on the Bitcoin-linked spot Exchanged Traded Funds (ETFs) proposals filed by investment giants Bitwise and Grayscale. The Commission is expected to make this announcement on the former by July 1st and on the latter by July 6th. Related Reading | Here Are Bitcoin And Ethereum’s […]
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“The approval of each and every Bitcoin-linked investment product strengthens our arguments about why the U.S. market deserves a spot Bitcoin ETF," said CEO Michael Sonnenshein. Digital asset manager Grayscale reported overwhelming support in public comments for its application to launch a spot Bitcoin exchange-traded fund.In a Monday letter to investors, Grayscale said that of the more than 11,400 letters the United States Securities and Exchange Commission, or SEC, had received in regards to its proposed Bitcoin (BTC) investment vehicle, “99.96 percent of those comment letters were....
A bitcoin spot exchange-traded fund could unlock $8 billion in value for investors if the SEC approves Grayscale’s bid to convert GBTC to an ETF.
The Securities and Exchange Commission is once again inviting the public to comment on whether a spot Bitcoin ETF presents a material risk to investors. The United States Securities and Exchange Commission (SEC) has once again delayed its ruling on whether to approve Grayscale’s application for a Bitcoin (BTC) exchange-traded fund (ETF), citing familiar concerns around manipulation, liquidity and transparency. In a notice published Friday afternoon, the SEC expressed concerns about how the digital asset manager intends to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF. Namely,....
Bloomberg senior analysts Eric Balchunas and James Seyffart have raised their approval odds of the first Bitcoin spot exchange-traded fund (ETF) in the United States (US) to 75%. This development comes after the US District of Columbia Circuit ruled against the US Securities and Exchange Commission (SEC), stamping out the regulator’s denial of Grayscale’s conversion of its Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. Court “Unanimity And Decisiveness” Unexpected, SEC Now In Tight Spot, Analysts Say According to his X post on August 30, Eric Balchunas explains that the new stance....
In a seismic shift for the Bitcoin industry, the DC Circuit court has ruled in favor of Grayscale Investments yesterday, effectively vacating the US Securities and Exchange Commission’s (SEC) previous denial of Grayscale’s Bitcoin spot ETF proposal. The decision has set the stage for a new chapter in the long-standing saga of Bitcoin spot ETFs, […]