SEC Faces Deadline to Appeal Grayscale Bitcoin ETF Ruling as Odds of Approval This Year Rise

The SEC has until Oct. 13 to appeal the court ruling that favored Grayscale's spot Bitcoin ETF bid, request a rehearing, or follow the order to review the application.

An appeal is unlikely but the SEC could still find ways to delay approval of Grayscale's ETF.

7 other spot Bitcoin ETF applications await SEC approval, but Grayscale's is most notable since its approval could pressure the SEC to approve others.

Odds of a spot Bitcoin ETF approval this year are 75% according to analysts, jumping to 95% by end of 2024.

If approved, Grayscale's spot Bitcoin ETF would convert their current Grayscale Bitcoin Trust (GBTC) into an ETF.