{"id":86127,"date":"2023-10-24T10:59:45","date_gmt":"2023-10-24T07:59:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86127"},"modified":"2025-09-13T03:32:50","modified_gmt":"2025-09-13T00:32:50","slug":"court-orders-sec-to-reconsider-grayscales-spot-bitcoin-etf-application","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/court-orders-sec-to-reconsider-grayscales-spot-bitcoin-etf-application\/","title":{"rendered":"Court orders SEC to reconsider Grayscale’s spot Bitcoin ETF application"},"content":{"rendered":"

The U.S. Court of Appeals officially \u0443\u0442\u0432\u0435\u0440\u0434\u0438\u043b<\/a> the ruling that the SEC<\/span> must reconsider Grayscale Investments’ application to convert GBTC<\/span> into a spot ETF<\/a> based on the first cryptocurrency.<\/p>\n

In June, the asset-management company filed a lawsuit<\/a> against the regulator over the regulator’s refusal to convert their flagship trust. The firm submitted<\/a> the application as early as October 2021.<\/p>\n

At the end of August, the court granted<\/a> Grayscale’s motion and ordered the Commission to reconsider the decision.<\/p>\n

The new document repeats the appellate court’s decision. In the ruling, the asset manager demonstrated that the proposed spot ETF is substantially similar to already approved Bitcoin futures ETFs.<\/p>\n

Earlier, the SEC did not intend<\/a> to appeal the court’s decision in the Grayscale case.<\/p>\n

The firm will list GBTC on NYSE Arca. After the S-3 registration statement is approved and the separate 19b-4 filing, the company will begin to issue the product on a continuing basis.<\/p>\n

In July, the SEC began reviewing<\/a> requests to launch spot Bitcoin ETFs from BlackRock, VanEck, Invesco, Fidelity Investments and WisdomTree. Later, Franklin Templeton joined<\/a> them.<\/p>\n

On August 31, the regulator delayed<\/a> decisions on several applications at least until mid-October. By the end of September, the regulator pushed back<\/a> the review of the Bitcoin ETF to January 2024.<\/p>\n

Earlier, JPMorgan doubted<\/a> that the launch of investment products would change the game for the crypto market given the relatively low interest in jurisdictions where they are allowed.<\/p>\n

In October, Matrixport analysts forecast the growth of digital gold upon approval of a Bitcoin ETF to $42 000-56 000<\/a>. CryptoQuant obtained figures at $50 000-73 000<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Court of Appeals officially affirmed the ruling that the SEC must reconsider Grayscale Investments’ application to convert GBTC into a spot ETF based on the first cryptocurrency.<\/p>\n","protected":false},"author":1,"featured_media":86128,"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":[569,943,128],"class_list":["post-86127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-grayscale-investments","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"44","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86127","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=86127"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86127\/revisions"}],"predecessor-version":[{"id":86129,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86127\/revisions\/86129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/86128"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=86127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=86127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=86127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}