The US Court of Appeals has once again delayed its decision on whether Grayscale can convert its Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF), causing uncertainty and leaving investors waiting for clarity.
The District of Columbia Court of Appeals has ruled in favor of Grayscale in a lawsuit against the SEC, potentially clearing the way for bitcoin exchange-traded funds and impacting other companies like BlackRock and Fidelity that are seeking to create bitcoin ETFs.
Grayscale Investments CEO Michael Sonnenshein believes that the recent court decision in favor of Grayscale could lead to a new and unprecedented environment for cryptocurrencies, potentially expanding mainstream acceptance of digital assets and boosting the chances for other asset managers to win approval for their bitcoin products.
Grayscale achieves a victory against the SEC, Evergrande's bankruptcy could negatively impact risk-on assets, and the 16 trillion PEPE tokens reportedly stolen raise concerns over rug-pulled altcoins, according to The Market Report.
The Grayscale Bitcoin ETF decision is important for several reasons, as stated in an opinion piece by Daniel Kuhn from CoinDesk.
A court victory for Grayscale Bitcoin Trust may lead to its transformation into an exchange-traded fund, potentially providing a profitable opportunity for investors. However, the approval of the US Securities and Exchange Commission (SEC) remains uncertain, despite a recent favorable ruling.
Cryptocurrency investment firm Grayscale has abandoned all rights to proof-of-work (PoW) Ethereum tokens one year after the Ethereum Merge due to lack of liquidity and support from custodians.
Grayscale's spot bitcoin ETF review is likely to be approved, following the introduction of Europe's first spot Bitcoin exchange-traded fund, setting a precedent for the Securities and Exchange Commission to allow the conversion of the Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund.
Grayscale Investments seeks approval from the SEC to convert its Ethereum investment product into an exchange-traded fund (ETF), aiming to bring Ethereum further into the U.S. regulatory framework.
Grayscale's Bitcoin Trust (GBTC) is experiencing its lowest discount in nearly two years as investors anticipate the approval of spot Bitcoin ETFs by the SEC.
The GBTC discount reached its lowest level in 22 months, suggesting increased optimism that Grayscale will be able to convert its bitcoin trust into an exchange-traded fund (ETF) after the SEC decided not to appeal a court's decision to set aside its rejection.
Grayscale and the crypto industry are considering their next steps after the U.S. SEC failed to appeal a court loss over Grayscale's application for a Bitcoin Trust (GBTC) spot ETF, with Grayscale stating it remains ready to convert GBTC into an ETF upon approval.
Grayscale Investments has filed a new registration statement with the SEC for a spot Bitcoin ETF, as part of its ongoing efforts to convert its Grayscale Bitcoin Trust into an ETF.
Summary: Grayscale has filed an application with the SEC to secure approval for its Grayscale Bitcoin Trust to operate as a spot Bitcoin ETF listed on the NYSE, while also facing a lawsuit that could complicate its listing efforts.
Grayscale Investments is on track to launch the first spot Bitcoin ETF in the U.S. after the Securities and Exchange Commission decided not to appeal a court ruling to stop the conversion of its Grayscale Bitcoin Trust to an ETF, causing GBTC stock to rise 3.3%.
