The SEC Must Review Grayscale's Spot Bitcoin ETF Application, Appeals Court Rules
The U.S. Court of Appeals has ordered the SEC to review Grayscale's spot Bitcoin ETF application, following a lawsuit filed by the firm last year. The court ruled in favor of Grayscale, stating that the SEC's refusal to allow the conversion of Grayscale Bitcoin Trust into a spot Bitcoin ETF was "arbitrary and capricious." While the SEC still has the power to deny the application, it would need to find a new reason not related to its prior justification.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
The SEC Must Review Grayscale's Spot Bitcoin ETF Application, Appeals Court Rules
The U.S. Court of Appeals has ordered the SEC to review Grayscale's spot Bitcoin ETF application, following a lawsuit filed by the firm last year. The court ruled in favor of Grayscale, stating that the SEC's refusal to allow the conversion of Grayscale Bitcoin Trust into a spot Bitcoin ETF was "arbitrary and capricious." While the SEC still has the power to deny the application, it would need to find a new reason not related to its prior justification.