US court says SEC wrong to deny Grayscale's spot bitcoin ETF …

Aug 29, 2023 · The U.S. securities regulator was wrong to reject an application from Grayscale Investments to create a spot bitcoin exchange-traded fund, a federal appeals court ruled on …

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FAQs about US court says SEC wrong to deny Grayscale's spot bitcoin ETF … Coupon?

Why did the SEC deny grayscale a bitcoin ETF proposal?

A panel of judges in the District of Columbia Court of Appeals in Washington said the securities regulator’s denial of Grayscale’s proposal was arbitrary and capricious because the SEC failed to explain its different treatment between bitcoin futures ETFs and spot bitcoin ETFs. ...

Was the SEC wrong to reject grayscale Bitcoin Trust?

A federal appeals court ruled that the SEC was wrong to reject Grayscale’s application to convert its flagship Grayscale Bitcoin Trust, which the SEC approved in 2015, and which holds more than $15bn in bitcoin, into an ETF. ...

Should the SEC approve a spot bitcoin exchange-traded fund?

The U.S. Securities and Exchange Commission should have approved an application from Grayscale Investments to create a spot bitcoin exchange-traded fund, a federal appeals court ruled Tuesday, in a landmark victory for the asset manager that could pave the way for the first product of its kind. ...

Can the SEC change GBTC to a spot bitcoin ETF?

On Oct. 13, the SEC must either appeal the D.C. Circuit Court of Appeals decision to the U.S. Supreme Court, request the Appeals Court revisit its ruling, or follow the court’s August order and review Grayscale’s bid to change its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. ...

Was the regulator wrong to reject a spot bitcoin exchange-traded fund?

REUTERS/Dado Ruvic/File Photo Purchase Licensing Rights WASHINGTON, Aug 29 (Reuters) - The U.S. securities regulator was wrong to reject an application from Grayscale Investments to create a spot bitcoin exchange-traded fund, a federal appeals court ruled on Tuesday, in a landmark victory that could pave the way for the first product of its kind. ...

Can the SEC appeal a spot bitcoin ETF decision?

The SEC said it was reviewing the court’s decision. The regulator could appeal to the full federal appeals court or the Supreme Court, but it is not clear whether it will chose to do so. Despite the SEC’s tough stance on the industry, demand for a spot bitcoin ETF has grown, and more traditional players have attempted to break into the sector. ...