Oct. 13 is the deadline for the SEC to appeal the win handed to Grayscale Investments in an Appeals Court, where it will either have to approve the firm’s bid for a spot Bitcoin ETF or find another way to delay or reject the application.
The SEC must appeal Grayscale’s win in a D.C. Appeals Court on Oct. 13, or it will have to approve — or try to delay — the firm’s Bitcoin ETF bid.The United States Securities and Exchange Commission will soon reach its deadline to appeal the court decision that ruled in favor of Grayscale Investments, forcing the regulator to review the fund manager’s application for a spot Bitcoin (
While many observers don’t believe the securities regulator will attempt to appeal the court’s decision, analysts say there could still be ways for the SEC to delay approval of Grayscale’s spot Bitcoin ETF conversion. On Oct. 13, the SEC must either appeal the D.C. Circuit Court of Appeals decision to the U.S. Supreme Court, request the Appeals Court revisit its ruling, orresponding to an X user's question, Bloomberg ETF analyst Eric Balcunas said an appeal was unlikely, though there could still be other hurdles happening.
“In this scenario, the new denial could itself then be subject to another appeal by GBTC to the D.C. Circuit,” wrote the firm. Another delay scenario, according to Ropes & Gray, would be if the New York Stock Exchange has to make a new filing to list GBTC — then it is possible the SEC could take up to eight months to reach a decision on the ETF.However, most eyes are on Grayscale’s spot Bitcoin ETF conversion application because if the SEC approves it — the regulator could struggle to find reasons to knock back other applications., according to Bloomberg analysts who updated the odds after Grayscale’s court win.
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.
Ark Invest updates Spot Bitcoin ETF prospectus; ETF specialist anticipates more delaysArk Invest, the renowned American investment management firm associated with Cathie Wood, has updated its Spot Bitcoin exchange-traded fund (ETF) fili
Read more »
Spot Bitcoin ETF Close to Being Approved by SECThe U.S. SEC approval for a Bitcoin ETF has become a tantalizing reality
Read more »
Ark Invest Updates Spot Bitcoin ETF Filing in Response to SEC FeedbackCrypto Blog
Read more »
Grayscale vs. SEC deadline: Commission faces a midnight Friday deadline to challenge August 29 lossGrayscale Investments secured a resounding victory in its longstanding case against the US Securities and Exchange Commission (SEC) in late August. Th
Read more »
Ark Invest Updates Spot Bitcoin ETF Application, Is Approval Likely?Ark Invest just disclosed more in its Spot Bitcoin ETF filing
Read more »
ARK's amended spot Bitcoin ETF filing is a ‘good sign’ of future approvalAn amended spot Bitcoin ETF filing from ARK Invest and 21Shares could show progress on approvals is happening, according to ETF analysts, as the updates seem to address earlier concerns flagged by the SEC.
Read more »