{"id":64241,"date":"2022-07-11T15:54:36","date_gmt":"2022-07-11T12:54:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64241"},"modified":"2025-09-06T13:21:21","modified_gmt":"2025-09-06T10:21:21","slug":"grayscale-estimates-timeline-for-court-case-against-the-sec","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscale-estimates-timeline-for-court-case-against-the-sec\/","title":{"rendered":"Grayscale estimates timeline for court case against the SEC"},"content":{"rendered":"<p>The lawsuit against the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>, brought by Grayscale Investments, could take one to two years. This forecast was issued by the company\u2019s Chief Legal Officer, Craig Salm.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">ICYMI: Craig Salm, Grayscale\u2019s Chief Legal Officer, addressed some common questions we\u2019ve heard from investors about our lawsuit challenging the SEC\u2019s decision on <a href=\\\"https:\/\/twitter.com\/search?q=%24GBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$GBTC<\/a>.<a href=\\\"https:\/\/t.co\/1x4IwnBEb2\\\">https:\/\/t.co\/1x4IwnBEb2<\/a><\/p>\n<p>\u2014 Grayscale (@Grayscale) <a href=\\\"https:\/\/twitter.com\/Grayscale\/status\/1546341144304488448?ref_src=twsrc%5Etfw\\\">July 11, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<p>The top executive said that Grayscale firmly believes in its arguments and is confident the court will rule in its favour.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Grayscale Investments filed for the conversion of a digital-gold-backed trust into a spot Bitcoin ETF on 19 October 2021.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>On 17 December the SEC postponed its decision on the application, and in February it again moved to take that step.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>On 30 June, Grayscale filed suit against the regulator after its application was finally rejected.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Earlier, the company stated that the SEC&#8217;s willingness to approve a futures-based Bitcoin ETF while rejecting applications for its spot variant could violate the Administrative Procedure Act.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>In the current filing, Salm stressed that the differences between futures- and spot-based ETFs on the first cryptocurrency have no bearing on the Commission&#8217;s decisions. Both product variants are based on the same spot bitcoin markets.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The denial of Grayscale&#8217;s application is regarded by the company as \\&#8221;unfair discrimination\\&#8221;. This is not only a violation of the Administrative Procedure Act, but also the <a href=\\\"https:\/\/en.wikipedia.org\/wiki\/Securities_Exchange_Act_of_1934\\\">Securities Exchange Act of 1934<\/a>.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>As reported by the Wall Street Journal <a href=\\\"https:\/\/forklog.news\/v-wall-street-journal-raskritikovali-glavu-sec-iz-za-situatsii-s-bitkoin-etf\/\\\">criticised<\/a> the head of the SEC, Gary Gensler, for a &#8216;confusing&#8217; approach to approving a spot bitcoin ETF.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Earlier Bloomberg analysts forecast that SEC would approve similar instruments by mid-2023. According to Eric Balchunas&#8217;s calculations, 95% of those who commented on Grayscale&#8217;s filing <a href=\"https:\/\/u1f987.com\/en\/news\/grayscales-bitcoin-etf-gains-public-support\">supported the launch of the instrument<\/a>.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>\u0421\u043f\u043e\u0442\u043e\u0432\u044b\u0435 \u0431\u0438\u0442\u043a\u043e\u0438\u043d-ETF \u043f\u043e\u043b\u0443\u0447\u0438\u043b\u0438 \u043e\u0434\u043e\u0431\u0440\u0435\u043d\u0438\u0435 \u0441\u043e \u0441\u0442\u043e\u0440\u043e\u043d\u044b \u0440\u0435\u0433\u0443\u043b\u044f\u0442\u043e\u0440\u043e\u0432 <a href=\\\"https:\/\/forklog.news\/kanada-ranshe-ssha-zaregistrirovala-bitkoin-etf\/\\\">\u041a\u0430\u043d\u0430\u0434\u044b<\/a>, <a href=\\\"https:\/\/forklog.news\/braziliya-vtoroj-v-mire-odobrila-bitkoin-etf\/\\\">\u0411\u0440\u0430\u0437\u0438\u043b\u0438\u0438<\/a>, Australia and <a href=\\\"https:\/\/forklog.news\/jacobi-asset-management-poluchila-listing-bitkoin-etf-na-euronext-v-amsterdame\/\\\">\u041d\u0438\u0434\u0435\u0440\u043b\u0430\u043d\u0434\u043e\u0432<\/a>.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p> <a href=\\\"\/\/telegram.me\/forklog\u201d\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u043a\u0440\u0438\u043f\u0442\u043e\u0432\u0430\u043b\u044e\u0442, \u043a\u0443\u0440\u0441\u044b \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a\u0430.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The lawsuit against the SEC, brought by Grayscale Investments, could take one to two years. This forecast was given by the company&#8217;s Chief Legal Officer, Craig Salm.<\/p>\n","protected":false},"author":1,"featured_media":64242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[943,128,1211],"class_list":["post-64241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-grayscale-investments","tag-sec","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=64241"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64241\/revisions"}],"predecessor-version":[{"id":64243,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64241\/revisions\/64243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64242"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}