US Court of Appeals postpones decision on Grayscale's Spot Bitcoin ETF case, community confused
As noted by Bloomberg's Eric Balchunas, this process lasts longer than 95% of similar cases in the U.S. court system. The community expects the solution by the end of August before the annual change of clerks in the court begins.In the lawsuit, Grayscale has sued the U.S. SEC for rejecting an idea to turn Grayscale Bitcoin Trust , a flagship Grayscale product, into a full-stack Bitcoin Spot ETF. Over 15 candidates are awaiting approval of their ETF proposals as of today.
Also, this hotly anticipated event can restore trust in cryptocurrencies as a reliable and mature asset class. Should the Bitcoin ETF be approved, investing products based on other cryptos will also kick off, analysts say.
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