No final decision yet in Grayscale ETF lawsuit with the SEC

August 19, 2023 03:14 AM AEST | By Invezz

No final decision yet in Grayscale ETF lawsuit with the SEC — Image source: Invezz

Grayscale continues to pursue ETF approval

Grayscale sued the SEC in 2022 after the regulator denied its application to convert the Bitcoin trust (GBTC) fund into a spot Bitcoin ETF. A court decision on the case had first been anticipated for Tuesday this week, and then today (Friday August 18).

In its lawsuit, Grayscale argues that the SEC has taken a discriminatory approach to handling Bitcoin futures ETFs and spot Bitcoin ETFs. The company has vowed to fight it out all the way to the Supreme Court if possible.

Meanwhile, multiple ETF applications have been filed or refiled this year, including from asset management and investment giants BlackRock and Fidelity. Sentiment across the industry is that the regulator could be looking to allow many of the proposed listings, a scenario likely to trigger Bitcoin price.

But criticism against SEC Chair Gary Gensler and the agency in general continues, particularly after recent regulatory actions against crypto exchanges and other industry players. Much of the debate is around the watchdog’s approach to regulation and the effect it’s having on both the innovation space and consumers that it is supposed to protect.

The post No final decision yet in Grayscale ETF lawsuit with the SEC appeared first on Invezz.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.