Grayscale Files New Bitcoin ETF Application After Court Win, But NY AG Lawsuit Looms
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Grayscale filed a new application with the SEC for a spot Bitcoin ETF, laying groundwork for its Grayscale Bitcoin Trust (GBTC) to operate as an ETF.
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This comes after Grayscale's court victory over SEC saying it had no basis to deny Grayscale's ETF request.
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But lawsuit against Grayscale parent DCG by NY AG Letitia James could complicate matters, seeking to bar DCG from NY securities business.
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GBTC discount is closing, signifying investors increasingly confident in the product.
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SEC has not yet approved Grayscale's application, unclear if it will be among first spot Bitcoin ETFs approved.
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