The GBTC discount has fallen to its lowest level in nearly two years as the SEC doesn't file an appeal against the recent Grayscale ruling.
The Grayscale Bitcoin Trust discount has fallen to its lowest level in nearly two years as the Securities and Exchange Commission fails to appeal against the recent Grayscale ruling.
The narrowing trend — seeing the discount shrink from over 40% before BlackRock and others filed spot bitcoin ETF applications in June — is likely a sign of increased optimism the SEC will approve a spot bitcoin ETF in the U.S., including the potential conversion of GBTC. However, the decision not to appeal doesn’t necessarily mean the regulator is ready to approve one.
“The Federal Rules of Appellate Procedure’s 45-day period to seek rehearing has now passed,” a Grayscale spokesperson told Fox Business over the weekend. “The Court will now issue its final mandate within seven calendar days. The Grayscale team remains operationally ready to convert GBTC to an ETF upon the SEC’s approval, and we look forward to sharing more information as soon as practicable.”
"It doesn't mean that that approval is coming quickly and it's still not a certainty given that the SEC could re-review and deny on different grounds and basically start this legal fight all over again," Schulp said on Friday.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grayscale 'GBTC Discount' Narrows to Near 2-Year Low as SEC Misses ETF Appeal WindowOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Read more »
Finebaum unloads on Gary Danielson for Neyland Stadium comment, calls ‘SEC on CBS’ a lame duckThe SEC Network analyst reacts to SEC on CBS' analyst's comments about Tennessee's stadium.
Read more »
Grayscale GBTC discount falls to 16% as markets bet on Bitcoin ETF approvalGrayscale Bitcoin Trust discount to Bitcoin net asset value has fallen to under 16%, its lowest since December 2021.
Read more »
Grayscale says it is 'operationally ready' for ETF as GBTC discount narrowsGrayscale has expressed its readiness to convert its Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF) after the US Securities & Excha
Read more »
Abbott Elementary (2021) | ScreenRantCreated by and starring Quinta Brunson, Abbott Elementary is a workplace comedy/mockumentary that follows a group of passionate teachers working with - and against - a difficult principal in the Philadelphia public school system.
Read more »
Man pleads guilty to murder in 2021 hit-and-run spree that killed steakhouse chefA man has pleaded guilty to third-degree murder in the death of a Philadelphia steakhouse chef prosecutors say he intentionally killed during a drug-fueled, hit-and-run spree
Read more »