Coinbry

  • Market Cap: $2,367,919,523,940.47
  • 24h Vol: $278,538,946,256.84
  • BTC Dominance: 50.69%
Consequences of SEC not appealing Grayscale spot Bitcoin ETF ruling

Consequences of SEC not appealing Grayscale spot Bitcoin ETF ruling

– The SEC must appeal the court decision in favor of Grayscale Investments by October 13 or review the fund manager’s application for a spot Bitcoin fund.

– While an appeal is unlikely, the SEC could still find ways to delay approval of Grayscale’s spot Bitcoin ETF conversion.

– One possibility is for the SEC to deny the application on new grounds, although this would be difficult to do.

– Another scenario is if the GBTC application is sent back for review, giving the SEC another chance to reject it.

– If the New York Stock Exchange has to make a new filing to list GBTC, the SEC could take up to eight months to reach a decision on the ETF.

– Currently, there are at least seven spot Bitcoin ETF applications before the SEC for approval.

– Grayscale’s application is particularly important because its approval could set a precedent for other applications.

– Bloomberg analysts believe there is a 75% likelihood of an approved spot Bitcoin ETF this year and a 95% likelihood by the end of 2024.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.