Cryptocurrency Is About To Go Mainstream With Latest Bitcoin ETF — Crypto More Profitable?
- 6 months ago
Cryptocurrency Is About To Go Mainstream With Latest Bitcoin ETF — Crypto More Profitable?
#cryptolatestnews #Crypto #CryptoTodaynews
Now, though, it appears things may begin to change.
As Bloomberg reported on Oct. 16, the SEC will not ask a federal appeals court to reconsider a ruling that paves the way for Grayscale Investments to launch a spot Bitcoin ETF, according to a person familiar with the matter. Some experts are viewing this outcome as a watershed moment.
In October 2021, Grayscale announced it had filed with the SEC to convert its Bitcoin Trust into a Bitcoin Spot ETF “on the heels of the SEC’s clearance of a Bitcoin Futures ETF,” according to an announcement. The filing faced opposite from the SEC, however.
In August, in a highly anticipated decision, the U.S. Court of Appeals for the District of Columbia Circuit vacated the SEC’s decision.The denial of Grayscale’s proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products. We therefore grant Grayscale’s petition and vacate the order,” court documents read.
A Grayscale spokeswoman indicated the Federal Rules of Appellate Procedure’s 45-day period to seek rehearing has now passed.
#cryptolatestnews #Crypto #CryptoTodaynews
Now, though, it appears things may begin to change.
As Bloomberg reported on Oct. 16, the SEC will not ask a federal appeals court to reconsider a ruling that paves the way for Grayscale Investments to launch a spot Bitcoin ETF, according to a person familiar with the matter. Some experts are viewing this outcome as a watershed moment.
In October 2021, Grayscale announced it had filed with the SEC to convert its Bitcoin Trust into a Bitcoin Spot ETF “on the heels of the SEC’s clearance of a Bitcoin Futures ETF,” according to an announcement. The filing faced opposite from the SEC, however.
In August, in a highly anticipated decision, the U.S. Court of Appeals for the District of Columbia Circuit vacated the SEC’s decision.The denial of Grayscale’s proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products. We therefore grant Grayscale’s petition and vacate the order,” court documents read.
A Grayscale spokeswoman indicated the Federal Rules of Appellate Procedure’s 45-day period to seek rehearing has now passed.