Posted 10/13/2023, 9:07:00 PM
SEC Won't Appeal Loss in Grayscale Bitcoin ETF Case, Increasing Chances of Approval
- SEC won't appeal court loss in Grayscale case, boosting odds of GBTC becoming a Bitcoin ETF
- Court previously ruled SEC's rejection of Grayscale's ETF application was "arbitrary and capricious"
- Unclear how SEC will proceed with Grayscale's application in next round
- Grayscale first applied to convert GBTC closed-end fund into ETF in October 2021
- Bitcoin price jumped above $27,000 after news SEC won't appeal
