SEC Has ‘No Grounds’ to Reject Bitcoin ETF Conversion, Grayscale Says
The SEC was last week ordered to review its prior rejection of the conversion of the Grayscale Bitcoin Trust (GBTC), though not necessarily to approve it.
The SEC was last week ordered to review its prior rejection of the conversion of the Grayscale Bitcoin Trust (GBTC), though not necessarily to approve it.
The crypto industry’s campaign to set up exchange-traded funds (ETFs) has now pushed the U.S. Securities and Exchange Commission against a wall with Grayscale Investments’ consequential court win, but it’s still up to the agency to decide whether to retreat or keep fighting.
The SEC must review its rejection to convert the Grayscale Bitcoin Trust into an exchange-traded fund, the appeals court ruled Tuesday.