Claim BonusJust In: Will SEC Finally Approve Grayscale Bitcoin ETF?
Grayscale Bitcoin SEC case: It’s been a long battle for Grayscale in its efforts to convert its Bitcoin fund to a spot based ETF. In June 2022, the US Securities and Exchanges Commission (SEC) denied Grayscale’s spot Bitcoin ETF application. Following this, the company waged a legal battle against the regulatory agency. In the context of the SEC’s ongoing actions against crypto based businesses, the case could prove to be vital in driving market sentiment in favor of cryptocurrencies.
Also Read: Terra Classic USTC Price Jumps 15%, LUNC Shows Strength After This Development
The Grayscale management is expecting a decision in the spot Bitcoin ETF decision by as soon as Fall of 2023. It appears the company now placed all its bets on the lawsuit against the SEC. With the Grayscale Bitcoin trust (GBTC) being the largest such Bitcoin fund in the world, even a minor outcome in favor of Grayscale could come out to be a huge boost for the crypto community. The SEC Grayscale case will soon hit the ground running as arguments are set to be heard in the court starting in March 2023.
What To Expect From Grayscale SEC Case
Speaking to Yahoo News on Monday, Grayscale CEO Michael Sonnenshein spoke about the company’s action plan in the case. The company will base its argument in saying spot based Bitcoin ETFs will offer greater investment security and regulatory oversight than the futures based ETFs. In view of the liquidity issues with its parent company Digital Currency Group (DCG), the company recently said it would consider a tender of up to 20% of the shares. Responding about this proposal in the instance of the court’s ruling against approval of the Grayscale spot Bitcoin ETF, Sonnenshein said the tender offer would not really be an optimal solution overall.
The CEO said that huge leverage came out of the crypto ecosystem in the last two months. He also said the upcoming Ethereum Shanghai upgrade and the Bitcoin halving in 2024 could act as huge catalysts for the cryptocurrency market.
Also Read: Ethereum Whales Buy The Floki Inu Price Dip; What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- XRP News: XRPL Activates Permissioned DEX Upgrade to Boost Institutional DeFi Adoption
- WLFI Token Sees 19% Spike Ahead of World Liberty’s Mar-a-Lago Forum Today
- Veteran Trader Peter Brandt Predicts Bitcoin Price Rebound, Gold Fall to $4000
- Peter Thiel Exits ETHZilla as Stock Slides 3% Amid Token Launch
- Bitwise, Granitshares Eyes $63B Sector With New Prediction Markets ETF Filing
- Will Sui Price Rally Ahead of Grayscale’s $GSUI ETF Launch Tomorrow?
- Why Pi Network Price Could Skyrocket to $0.20 This Week
- Pi Network Price Beats Bitcoin, Ethereum, XRP as Upgrades and Potential CEX Listing Fuels Demand
- 5 Things Dogecoin Price Needs to Hit $0.20 in Feb 2026
- Bitcoin Price Prediction as Experts Warns of Quantum Risks
- Dogecoin, Shiba Inu, Pepe Coin Price Predictions As BTC Crashes Below $68k
